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1 848 -1 898 


Fifty  Years  of  Work 


IN  THE 


United  States  of 
America 


BEING  AN  ACCOUNT   OF 

THE    ENTRY    INTO    THE    UNITED   STATES 

OF  THE   COMPANY   NOW   KNOWN  AS 

THE  LIVERPOOL  and  LONDON  and   GLOBE 

IN   THE  YEAR    1848   AND   OF 

ITS    WORK    THERE    FOR    FIFTY    YEARS; 

WITH   WHICH   IS   INCIyUDED   A   BRIEF   HISTORY 

OF  THE  ESTABLISHMENT  AND 

GENERAL   OPERATIONS   OF   THE   COMPANY. 


NEW   YORK,    1898 


or  THE 


UNIVEkSITY 

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FIFTY    YEARS    OF    WORK    IN    THE 
UNITED  STATES  OF  AMERICA. 

HE  Deed  of  Settlement  by  which  the 
**  Liverpool "  was  established  was  duly 
executed  on  the  21st  day  of  May,  1836. 
On  the  14th  July  following  an  Act 
of  Parliament  was  passed  to  carry  into  effect  the 
objects  of  the  Company  in  essential  particulars. 

The  earliest  proprietors  of  prominence  were 
Messrs.  George  Holt,  Thomas  Booth,  Richard 
Edwards,  Thomas  Brocklebank,  William  Dixon, 
William  Earle,  Jr.,  Joseph  Christopher  Ewart, 
Ormerod  Heyworth,  Saniuel  Taylor  Hobson,  Joseph 
Hornby,  George  Hall  Lawrence,  Andrew  Low, 
Alexander  McGregor,  Andrew  Melly,  James  Moon, 
Lewin     Mozley,     William     Nicol,     Charles     Stewart 


l\>i<H7Q 


4  LIVERPOOIv  AND  LONDON  and   GLOBE 

Parker,  William  Robert  Preston,  James  Powell,  and 
John  Ridgway,  all  of  Liverpool.  The  first  Trustees 
were  Sir  Thomas  Brancker  and  Messrs.  William 
Brown   and   Adam   Hodgson,  also   of   Liverpool. 

The  first  Secretary  (Chief  Executive  Officer) 
was  Mr.  Swinton  Boult,  by  whose  exertions  mainly 
the  Company  was  formed,  and  who  later,  by  his 
powers  of  organization,  assisted  in  laying  the  founda- 
tion for  that  world-wide  business  which  furnishes 
security  at  once  to  the  stockholder  and  the  assured 
against  the  perils  of  extensive  conflagrations. 

The  time  seemed  ripe  for  the  formation  of  this, 
the  first  local  company  in  Liverpool,  and  the  oppor- 
tunity was  offered  in  a  way  peculiarly  advantageous 
to  the  promotion  of  a  varied  business  in  the  interests 
arrayed  in  the  Company's  first  Board  of  Direc- 
tion. Representing  every  branch  of  the  mercantile 
community,  these  gentlemen  were  in  a  position  in 
that  great  shipping  centre  not  merely  to  influence 
to  the  Company  a  large  share  of  the  local  business 
previously  distributed  amongst  insurance  companies 
hailing    from    other    cities,    but    by    their    interests 


SWINTON    BOU  I_T. 


^^^r^-x 


Henry  Thomson. 


v  ^ 


A  t 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.  5 

abroad  to  acquire  important  connections  for  the 
Company  in  the  great  mercantile  centres  of  the 
world. 

The  situation  at  this  period  is  well  described 
in  an  article  relating  to  the  Company,  recently 
published  in  the  Insurance  Advocate  of  Philadelphia, 
from  which  we  quote  as  follows: 

Development  of  Foreign  Business. 

"  The  city  of  Liverpool  was  at  this  period 
rapidly  extending  its  commerce  with  foreign  lands, 
advancing  steadily  toward  the  position  of  supremacy 
which  it  finally  attained  in  maritime  affairs.  Hav- 
ing thoroughly  mastered  the  situation  at  home,  and 
seeing  in  the  necessities  of  those  engaged  in  British 
commerce  a  great  opportunity,  Mr.  Boult  inaugu- 
rated a  policy  of  foreign  extension  on  a  magnificent 
and  unprecedented  scale.  He  traveled  around  the 
world,  establishing  branch  offices  wherever  commerce 
flourished;  applying  his  trained  intelligence  and  his 
practical  experience  to  the  varying  conditions  he 
found  in  different   countries,  and  adapting  the  prac- 


6  LIVERPOOL  AND  LONDON  and  GLOBE 

tice  of  the  business  to  the  requirements  of  each  case. 
Thus,  early  in  its  history,  the  Company  took  the 
whole  world  as  its  field  of  operations  and  became 
a  power  in  every  land  where  trade  had  so  far 
developed  as  to  create  a  demand  for  the  indemnity 
it  had  to  offer." 

Stress  is  laid  on  this  aspect  of  the  Company's 
policy  in  view  of  the  remarkable  results  which 
attended  the  extension  of  the  Company's  operations 
to  the  United  States  of  America  twelve  years  after 
its  establishment. 

The  capital  of  the  Company  was  ;^2 ,000,000, 
of  which  ;^66,i75  was  at  once  paid  up,  the  design 
of  the  proprietors  being  to  rely  on  the  accumulation 
of  heavy  reserves  to  satisfy  extraordinary  claims  for 
loss,  rather  than  to  call  up  a  large  capital.  That 
the  maintenance  of  a  large  reserve  was  essential  to 
the  interests  of  the  proprietors  themselves  is  manifest 
when  the  leading  features  of  the  Deeds  and  Acts  of 
Parliament  in  which  the  Constitution  is  embodied 
are  considered. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.  7 

One  of  these  is  that  the  liability  of  the  stock- 
holders shall  not  be  limited,  and  that  whilst  on  the 
transfer  of  his  stock  the  liability  of  a  proprietor 
shall  cease  as  between  the  proprietors,  he  shall  yet 
be  liable  on  contracts  in  existence  at  the  time  of 
such  transfer  for  a  period  of  one  year  thereafter. 

This  question  of  protection,  alike  to  the  policy- 
holder and  the  shareholder,  appears  to  have  been 
held  steadily  in  view  at  all  times  in  the  history  of 
the  Company,  and  to  this  is  to  be  attributed  the 
remarkably  large  reserves  which  twice  in  its  history 
were  to  afford  to  each  of  these  interests  such  complete 
security  that  the  claim  of  the  policyholder  was  dis- 
charged in  full  and  the  stockholder  entirely  escaped 
assessment.  In  this  connection,  and  as  justifying 
this  consistent  policy  of  the  Directors,  the  following 
extract  from  an  early  prospectus  of  the  Company 
is   given : 

"  The  Fire  Reserves  have  been  created  out  of 
the  surpluses  of  prosperous  years,  and  form  the  best 
protection  possible  to  both  insurer  and  proprietor, 
from   the   effects,  not   only  of  the  unprofitable  years, 


lO 


LIVERPOOL  AND  LONDON  and  GLOBE 


In    1846   these   had   increased   to  $    238,815 


In  1856   "    " 

''      1,111)395 

In  1866   " 

"    "   4,090,275 

In  1876   "    " 

"   5,202,945 

In  .1886   " 

"   6,447,970 

In  1896   "    " 

"    "   7,764,175 

On  the  23rd  June,  1864,  an  Act  of  Parliament 
was  passed  confirming  the  agreement  for  the  amal- 
gamation of  the  Company  with  the  Globe  Insurance 
Company  of  London,  and  changing  the  name  of  the 
consolidated  Company  to  The  Liverpool  and  London 
and  Globe  Insurance  Company.  The  Globe  Insur- 
ance Company  had  at  the  time  of  the  amalgamation 
been  in  existence  for  a  period  of  sixty-one  years, 
and  the  operation  by  which  these  two  organizations 
were  united  has  been  regarded  as  one  of  the  most 
notable   events   in   insurance  history. 

By  this  transaction  the  "  Liverpool  and  London  " 
not  merely  acquired  highly  valuable  business  in 
London  and  the  provinces,  but  added  to  its  influ- 
ential  Board  of   Directors   in   London   the   names   of 


Company's   Office  Buildings. 


Liverpool. 


London. 


.) 


\^        H-V*** 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.         ii 

many  gentlemen  of  prominence  in  the  mercantile 
and   financial   circles   of   tliat   city. 

Not  the  least  of  the  advantages  then  secured  was 
the  possession  of  a  choice  location  in  the  metropolis 
for  the  transaction  of  the  Company's  business.  The 
office  building  so  long  occupied  by  the  Globe  Insur- 
ance Company  extends  from  Comhill  round  into 
Lombard  Street,  facing  on  the  north  the  Royal 
Exchange  and  the  Bank  of  England,  and  on  the 
west  and  south  the  Mansion  House.  It  is  at  the 
junction  of  seven  streets,  and  has  been  often  described 
as  possessing  a  value  per  square  foot  of  ground  area 
not  exceeded  by  that  of   any  other  site  in  the  world. 

Mr.  Augustus  Hendriks,  now  and  for  many  years 
the  Actuary  and  Resident  Secretary  in  London,  passed 
from  the  service  of  the  "  Globe "  (which  he  had 
entered  in  1852)  to  that  of  the  consolidated  Company. 

In  1873 — a  few  years  after  his  advancement  to 
the  position  of  Managing  Director  of  the  Company 
— Mr.  Swinton  Boult  retired,  Mr.  Henry  Thomson, 
the   then   Secretary,   becoming  chief  executive  officer. 


12  LIVERPOOL  AND  LONDON  and  GLOBE 

Mr.  Thomson  had  been  with  the  Company  at  that 
time  nine  years.  He  had  been  engaged  in  the  ser- 
vice of  insurance  companies  since  early  youth,  having 
entered  the  Aberdeen  office  of  the  Northern  Insur- 
ance Company  at  fourteen  years  of  age.  After 
several  changes  he  became,  in  1861,  Fire  Manager 
of  the  Commercial  Union  Assurance  Company,  which 
position  he  vacated  to  enter  the  service  of  The 
Liverpool  and  London  and  Globe  Insurance  Company. 
He  died  suddenly  in  1876  after  a  singularly  vigorous 
and  devoted  attention  to  the  Company's  affairs.  It 
may  be  noted  that  in  his  reference  to  the  establish- 
ment of  the  Commercial  Union  above  referred  to, 
Mr.  Walford  in  his  Insurance  Cyclopedia  says — 
"The  Fire  Manager  selected  by  the  promoters  was 
Mr.  Henry  Thomson.  It  would  probably  have  been 
found  impossible  to  select  anyone  better  or  so  well 
qualified  for  the   task   in   view." 

His  successor  was  Mr.  John  Matthew  Dove, 
for  three  years  Assistant  Secretary,  and  who  became 
General  Manager  and  Secretary,  a  position  he  still 
holds.      Prior   to   his   connection   with   the   Company 


John    M.  D  ov  e. 


Th  o  s.  1.  Also  r 


Aug.  Hendriks. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.         13 

lie  liad  for  ten  years  been  in  the  service  of  the 
Royal  Insurance  Company  at  its  head  office  in 
Liverpool  as  its  Assistant  Secretary.  He  was  now  to 
exert  for  the  interests  he  represented  those  powers 
which  have  contributed  to  the  remarkable  advance- 
ment of  the  Company,  both  in  the  magnitude  of  its 
operations  and  in  the  results  attained.  At  the  sixty- 
second  annual  meeting  of  the  stockholders  held 
in  Liverpool  on  the  12th  May,  1898,  the  Chairman 
of  the  Company,  Mr.  Arthur  Barle,  in  moving  a 
resolution  of  thanks  to  the  officers  of  the  Company, 
aptly  referred  to  the  interesting  period  in  the  history 
of  the  Company  covered  by  the  administration  of 
Mr.   Dove  in   the  following   words : 

"Gentlemen,  I  now  rise  to  move  the  following 
resolution : — '  That  the  thanks  of  this  meeting  be 
given  to  Mr.  Dove  (the  Manager),  Mr.  Alsop  (the 
Sub-Manager),  and  Mr.  Hendriks  (the  Actuary),  and 
the  other  officers  of  the  Company.'  I  am  sure  all 
here  will  join  in  those  sentiments.  Mr.  Dove  entered 
the  service  of  this  Company  in  the  year  1873,  just 
twenty-five   years   ago.     The   assets  of   the   Company 


14  LIVERPOOL  AND  LONDON  and   GLOBE 

then  were  ;^4,5oo,ooo,  the  fire  premiums  just  over 
;^ 1, 000,000,  and  the  dividend  paid  was  10  per  cent., 
represented  by  the  modest  sum  of  ^25,000.  In 
1876  he  became  our  Manager.  At  that  time  the 
assets  were  ;^5, 500,000,  the  fire  premiums  were 
under  ;^  1,000,000,  and  the  dividend,  30  per  cent., 
cost  ;^ 7 3, 000.  We  still  are  fortunate  enough  to  find 
Mr.  Dove  not  only  as  our  Manager,  but  occupying 
one  of  the  foremost  positions  in  the  insurance  world, 
our  assets  now  being  ;^  10,000,000,  our  fire  premiums 
showing  an  increase  of  50  per  cent,  on  what  they 
were  when  he  first  became  Manager,  and  our  divi- 
dend 90  per  cent,  representing  an  annual  payment 
of  ;^22i,ooo.  I  think  these  figures  speak  for  them- 
selves. We  are  often  told  'to  judge  by  results,' 
and  I  cannot  help  quoting  the  words  of  one  who 
was  among  the  founders  of  this  Company  when  he 
said  some  forty-five  years  ago,  *  If  you  only  knew 
it,  you  have  a  gold  mine  under  your  feet.'  Let  us 
hope  that  under  the  able  guidance  of  Mr.  Dove 
this  may  long  be  the  case,  and  that  we  may  see 
him  in  health  and  strength  on  the  left  of   the  Chair 


Company's    Office    Buildings 

1 


Birmingham,Enguand. 


Bristou.England. 


Leeds,  Eisig^ano. 


Manchester,  England. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.         15 

at  our  annual  meetings  for  many  a  year  to  come. 
As  to  Mr.  Alsop,  his  life  has  been  spent  in  the 
service  of  this  Company,  and  he  has  rendered  us 
invaluable  aid  in  the  past  as  I  hope  he  may  also 
do  in  the  future.  Mr.  Hendriks  in  London,  will 
have  his  hands  full  this  year  with  his  quinquennial, 
and  I  hope  we  may  next  year  be  able  to  congratu- 
late him  on  the  management  of  that  department. 
The  other  officers  of  the  Company  include,  as  you 
are  aware,  some  of  the  leaders  of  the  insurance 
world  in  several  parts  of  the  globe.  Some  are 
present  to-day,  but  I  would  ask  you  to  acknowledge 
the  services  of  all  in  the  resolution  before  you. 
Without  the  engineers  the  ship  cannot  steam  ahead, 
and  the  devotion  these  excellent  officials  of  yours 
show   on  every   occasion   is   above   all   praise." 

Mr.  Thomas  Israel  Alsop  entered  the  chief 
office  in  Liverpool  in  the  early  sixties,  and  occupied, 
in  turn,  the  positions  of  Cashier,  Departmental  Chief 
of  the  Foreign  Department,  and  Assistant  Secretary. 
He  became  Sub-manager  in  succession  to  Mr. 
Alexander  Duncan,  who,  after  some  years  of   service 


i6  IvIVERPOOI.  AND  I^ONDON  and   GLOBE 

with  the  Company  in  that  capacity,  left  to  undertake 
the  duties  of  Manager  of  the  Scottish  Union  and 
National  Insurance  Company,  a  position  he  still 
holds. 

The  home  office  statement  for  the  year  1897, 
as  made  up  in  the  manner  prescribed  by  such  of 
the  States  of  the  United  States  as  call  for  it,  is 
in   brief  as   follows: 

Total   assets  -        -        -      $56,393,187.28 

Total   liabilities,  including 

paid   up   capital  -        39,203,497.03 

Surplus  beyond  capital  and 

all   other  liabilities       -        17,189,690.25 

Capital  actually  paid  up  in 

cash       -        -        .        .  1,228,200.00 

Surplus  available  for  policy- 
holders        -        -        -        $18,417,890.25 

Included  in  assets  is  the  sum  of  $5,934,091.06, 
real  estate  owned  by  the  Company  as  in  the 
Company's  books,  said  real  estate  being  of  greater 
market    value;    $8,369,334    in    loans    on    bond    and 


Company's    Office    Buildings. 


M  EXICO   ClTV,  Mex. 


Dublin,  Ireland. 


Sydney,  N.S. W. 


Hamburg.  Germany. 


yf< 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.         17 

mortgage  (first  liens),  and  $33,233,889.18  in  stocks 
and  bonds,   the  par   value  being   $29,971,229.36. 

Included  in  the  total  given  of  stocks  and 
bonds  is  an  aggregate  value  of  no  less  than 
$7,307,849,  representing  purchases  of  bonds  of  rail- 
roads and  cities  in  the  United  States  for  account 
of  the  Home  Board,  independently  of  the  securities 
in   the   possession   of  the   United   States   Trustees. 

As  the  accounts  presented  once  a  year  to  the 
stockholders  of  the  Company  are  in  a  shape  differ- 
ing from  the  departmental  form  above  referred  to, 
a  table  is  herewith  appended  on  the  American 
standard  showing  the  Company's  condition  for  the 
period    1888-1897   inclusive. 


Year. 

Total  Assets. 

Total  I,iabilities 

excluding 

Capital. 

Surplus  available 
for  Policy- 
holders. 

Surplus  beyond 
Cash  Capital 

1888 

$43,535,688 

$30,654,347 

$12,881,340 

$11,653,140 

1889 

44,982,492 

31,488,095 

13.494,396 

12,266,196 

1890 

45,814,122 

32,547,790 

13,266,331 

12,038,131 

I89I 

46,822,715 

33,991,464 

12,831,251 

11,603,051 

1892 

47,260,196 

34,189,801 

13,070,395 

11,842,195 

1893 

48,254,205 

34,750,962 

13,503.243 

12,275,043 

1894 

50,728,002 

35,431,602 

15,296.399 

14,068,199 

1895 

53,049.990 

36,531,942 

16,517,047 

15,289,847 

1896 

54,716,020 

36.904,593 

17,811,426 

16,583,226 

1897 

56,393,187 

37,975,297 

18,417,890 

17,189,690 

1 8  LIVERPOOL  AND  LONDON  and   GLOBE 

At  the  last  annual  meeting  held  in  May,  1898,  the 
Directors  at  the  head  office  of  the  Company  in 
Liverpool   were : 

A.   Barle,   Esq.,   Chairman, 
S.  Sandbach   Parker,  Esq., 


^^    ^     ^        ,     —  ,  Deputy  Chairmen, 

H.  L.  Smyth,  Esq.,  \       ^    ^ 

J.  Bibby,  Esq.,  Richard  Hobson,  Esq., 

T.  Brocklebank,  Esq.,  William  F.  Moore,  Esq., 

Alfred  Fletcher,  Esq.,  H.  H.  Nicholson,  Esq., 

A.  Piggott  Fletcher,  Esq.,  W.  H.  Tate,  Esq., 

H.  B.  Gilmour,  Esq.,  E.  J.   Thomewill,  Esq. 


The  Directors  in  London  at  the  same  time  were : 
Sir  C.  Nicholson,  Bart.,  D.  C.  L.,  Chairman, 
G.  D.  Whatman,  Esq.,    Deputy  Chairman, 
Sir  W.  J.  R.  Cotton,         Hon.  S.  Carr  Glyn, 
Charles  H.  Combe,  Esq.,    Right  Hon.  Lord  Lawrence, 
F.  Fanning,  Esq.,  Cosmo  Romilly,  Esq., 

A.  Flower,  Esq. 


UNITED  STATES. 

We  now  turn  to  tlie  operations  of  the  Company 
in   the   United   States. 

Early  in  the  year  1848,  Mr.  Alfred  Pell  of  New 
York  was  appointed  by  the  Home  Office  agent  for  that 
city  and  vicinity.  In  an  effort  to  introduce  the 
Company  in  this  new  field,  his  task  was  far  from 
easy.  Since  the  year  181 2,  when  the  Phcenix  Assur- 
ance Company  of  London  was  compelled  to  relinquish 
such  agencies  as  it  then  had  in  this  country,  no 
European   company   had    entered   the   United   States. 

Beyond  English  houses  in  New  York,  or  such 
establishments  as  possessed  English  connections,  and 
of  such  friends  and  acquaintances  as  Mr.  Pell  could 
influence,  we  can  imagine  that  the  encouragement 
was  small.  The  Company  had  been  in  existence 
but  twelve  years,  and,  as  we  have  seen,  its  fire  pre- 
miums   in    1846   amounted  to   but  $238,815.     It   had 


20  LIVERPOOL  AND  LONDON  and  GLOBE 

no  deposits  in  this  country,  and  the  estimate  of  the 
value  of  its  policies  when  taken  had  to  be  formed 
upon  the  representations  of  Mr.  Pell,  or  of  such  of 
our  merchants  or  bankers  as  possessed  a  knowledge 
of  the  standing  of  the  Company.  Accordingly,  we 
find  that  Mr.  Pell  in  soliciting  insurance  armed 
himself  with  a  certificate,  of  which  a  fac-simile  is 
g^ven  below. 


James     Brown. 


Alfred   Pell,  Senior. 


Alfred    Pell. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        21 

The  fire  premiums  on  policies  issued  by  Mr. 
Pell   during   his   agency   are   as   under: 

Year    1848        -        -        -        -        $  4,515. 
"       1849        .        .        -        -  7,900. 

"       1850        ....  32,940. 

On  the  1 2th  December,  1850,  by  a  resolution 
of  the  Home  Board,  a  regular  branch  of  the  Com- 
pany was  established  for  the  transaction  of  business 
in  the  United  States,  and  a  meeting  was  held  on 
January  6th,  185 1  in  New  York,  at  the  office  of 
Messrs.  Brown  Brothers  &  Company,  for  the  purpose 
of  forming  a  Board  of  Directors,  and  for  the  nomi- 
nation of  Trustees  of  the  funds  of  the  Company  in 
the  United   States. 

It  is  worthy  of  note  that,  even  at  that  very 
early  date,  the  Company  entertained  the  idea  of 
securing  a  charter  from  the  State  of  New  York 
with  a  view  of  identifying  itself  intimately  with  the 
land  in  which  it  was  to  secure  so  large  a  measure 
of   success.      The   project,   however,    fell   through. 


22  LIVERPOOL  AND  LONDON   and  GLOBE 

The  following  gentlemen,  having  duly  qualified 
as  stockholders,  were  elected  Directors  on  the  New 
York   Board: 

George  Barclay,  W.  S.  Wetmore, 

James  Brown,  Francis  Griffin, 

M.  H.  Collett,  C.  W.  Faber, 

Francis  Cottenet,  Mortimer  Livingston, 

Royal  Phelps,  B.  F.  Sanderson. 

Mr.  James  Brown,  of  the  firm  of  Brown  Brothers 
&  Company,  was  elected  Chairman  of  the  Board,  and 
Mr.   Francis   Cottenet  became   Deputy   Chairman. 

The  first  Trustees  were  Messrs.  Brown  and 
Faber. 

Mr.  Alfred  Pell,  having  resigned  his  position 
as  agent,  became  the  Resident  Secretary  of  the 
Branch  and  Chief  Executive  Officer  in  the  United 
States. 

The  first  agency  established  was  at  Charleston, 
S.  C,  Mr.  James  Adger  receiving  the  appointment,  and 
on  the  24th  February,  185 1,  an  important  connection 
was  formed  in  Philadelphia  by  the  acquisition  of  the 
services  of  Mr.  Richard  S.  Smith,  who  by  his  influence 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.         23 

and  active  work  quickly  established  the  Company  in 
the   estimation   of   the   people  of   the  "  Quaker  City." 

Apparently  the  agency  system  prevailed  in  no 
important  degree  at  this  time,  for  Fowler  in  his  History 
of  Insurance^  in  referring  to  the  advent  of  the  Company 
in  the  State  of  Pennsylvania,  says  that  a  "  prestige  was 
given  to  the  agency  method  "  by  this  event.  He  con- 
tinues :  "  Richard  S.  Smith,  President  of  the  Union 
Mutual  Insurance  Company,  was  appointed  agent  for 
Philadelphia  of  the  Liverpool  and  London.  This  was 
the  first  foreign  fire  insurance  agency  established  in 
Philadelphia  after  the  exclusion  of  the  Phoenix  of 
London   by   the   Act   of   March    loth,    18 10." 

The  transaction  of  perpetual  business  was  at  once 
determined  upon,  and  whilst  this  feature  of  fire  insur- 
ance has  been  extended  but  little  outside  the  City  of 
Philadelphia,  yet  the  Company's  operations  in  that 
branch  seem  to  have  been  marked  with  success  there 
from  the  earliest  date  of  the  undertaking. 

On  the  27th  October,  1851,  arrangements  were 
concluded  with  Mr.  Charles  Briggs  to  represent  the 
Company  at  New  Orleans. 


24  LIVERPOOI.  AND  I.ONDON  and   GLOBE 

Mr.  Francis  Griffin  having  died,  Mr.  Alexander 
Hamilton,  Jr.,  was  elected  a  Director  in  liis  place,  and 
was  appointed  counsel  to  the  Board.  (Mr.  Hamilton 
maintained  continuously  his  connection  with  the  Com- 
pany as  Director  for  thirty-eight  years,  until  his 
death   in   December,    1889.) 

The  headquarters  of  the  Company  at  this  time 
were  at  No.  56  Wall  Street,  an  office  on  the  first  floor 
having  been  leased  for  the  transaction  of  business. 

In  June,  1853,  Mr.  Joshua  P.  Haven  was  duly 
appointed  the  agent  at  San  Francisco  under  stringent 
regulations  touching  the  acceptance  of  risks. 

About  the  same  time  it  was  determined  to  transact 
a  life  business.  The  plan  was  put  in  operation,  but  a 
very  limited  success  was  realized,  and  in  1870  all 
further  efforts  in  that  branch  were  abandoned.  There- 
after the  time  of  the  Management  could  be  exclusively 
directed  to  the  fire  department,  which  had  already 
furnished  abundant  earnest  of  the  remarkable  growth 
later  so  fully   realized. 

And  now  began  the  connection  with  the  Company 
of  the  late  Mr.  William  Warren,  who  applied  for  and 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        25 

received  the  agency  at  Cleveland,  O.  He  died  in  har- 
ness as  Resident  Secretary  of  the  Company  in  Chicago 
after  a  long  service,  alike  valuable  to  the  Company  and 
honorable  to  himself.  Later,  we  shall  have  occasion  to 
refer  to  his  acts  at  a  very  important  period  of  the 
Company's  history. 

In  pursuance  of  the  policy  which  had  been  a 
marked  feature  of  the  Company's  operations  in  Great 
Britain,  as  well  as  in  foreign  countries,  a  local  Board  of 
Directors  was  formed  in  New  Orleans,  in  1853,  follow- 
ing a  very  promising  increase  of  business  in  that  city. 

On  the  resignation  of  Mr.  Briggs  as  agent  there 
in  March  1854,  Mr.  Henry  V.  Ogden  was  appointed 
in  his  stead,  and  later  in  the  year  received  the 
title  of  Resident  Secretary.  The  first  severe  loss 
suffered  by  the  Company  in  the  United  States 
by  any  one  fire  occurred  at  New  Orleans  at  this 
time,  almost  the  first  duty  of  the  new  agent  being 
to  dispose  of  claims  amounting  to  about  $90,000. 
Without  positive  information  on  the  point,  it  yet 
seems  likely  that  the  rule  of  the  Company  provid- 
ing   for      prompt      payment     without     discount     of 


26  LIVERPOOL  AND  LONDON  and  GLOBE 

claims  for  fire  loss  was  even  then  in  operation,  for 
tlie  Minutes  of  the  New  York  Board  show  that 
authorization  was  given  Mr.  Ogden  to  draw  for  the 
loss  "  at  fifteen  and  thirty  days."  As  the  recorded 
figures  show,  this  fire  served  to  far  more  than 
absorb  the  surplus  realized  in  three  years  on  the 
business  at  that  point. 

On  September  15th,  1854,  an  agency  was  estab- 
lished at  Baltimore,  Mr.  Wm.  F.  Murdoch  receiving 
the  appointment,  and  without  entering  into  other 
than  brief  particulars  of  the  opening  of  connections 
in  other  places,  it  may  be  said  that  the  Company 
was  represented  at  this  period  in  the  undermen- 
tioned  important   cities : 

In  Boston,  Mass.,  by  Messrs.  Edwards  &  Brewster, 
In  Savannah,  Ga.,  by  Messrs.  Bancroft  &  Bryant, 
In  New  Haven,  Conn.,  by  Mr.  Charles  Robinson, 
In  Cincinnati,  O.,  by  Mr.  Howard  Matthews, 
In  Louisville,  Ky.,  by  Mr.  William  Sinton, 
In  Chicago,  111.,  by  Mr.  John  Kinney, 
In  Indianapolis,  Ind.,  by  Mr.  F.  R.  Famsworth. 
Shortly     afterwards     these    were     added     to     by 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.  27 

appointments  at  Buffalo,  N.  Y.;  Mobile,  Ala.;  St. 
Louis,  Mo.;  Milwaukee,  Wis.,  and  other  places,  and 
tlie  Company  at  tlie  close  of  the  year  1854  may 
be  considered  as  having  fully  embarked  in  the  agency 
business   of   the   country. 

The  minutes  of  the  New  York  Board  at  this 
period  show  that  the  Directors  were  giving  much 
attention  to  applications  for  loans  on  bond  and  mort- 
gage, indicating  that  the  Company  even  at  that  early 
stage  of  its  history  in  this  country  was  looking 
very  favorably  on  this  means,  amongst  others,  of 
investing  its  surplus  funds.  The  account  has  shown 
a  steady  growth,  and  stands  at  the  date  of  this 
writing  (June,  1898)  at  $3,567,800,  a  sum,  in  fact, 
largely  in  excess  of  that  invested  in  this  country 
in  like  security  by  any  other  fire  insurance  com- 
pany,  native   or   foreign. 

In  1856,  the  Company  instituted  a  distinct 
departure  in  fire  underwriting  in  determining  to 
write  railroad  property  in  schedule  form.  The 
scheme  was  put  into  a  practicable  shape  and  received 
at   once   the   warm  approval   and  support   of   railroad 


28  LIVERPOOL  AND  LONDON  and  GLOBE 

officials.  Tlie  account  grew  with  time  and  patient 
work,  and  was  attended  in  the  earlier  years  with 
highly  satisfactory  results.  After  the  Chicago  and 
Boston  conflagrations,  which  served  to  temporarily 
diminish  competition,  the  volume  of  premiums  had 
largely  increased.  With  an  accession,  later,  of  sundry 
companies  to  the  ranks  of  those  engaged  in  railroad 
underwriting,  to  the  consequent  steady  diminution 
in  the  average  rate  secured,  and  to  the  indisposition 
shown  by  the  larger  railroad  systems  to  pay  pre- 
miums in  excess  of  their  average  losses,  is  to  be 
attributed  the  decline  of  the  business  which  now 
attracts  but  few  insurers,  and  which  furnishes  but 
scant  reward  even  to  such  as  from  their  past  ex- 
perience are  in  a  position  to  discriminate  and  to 
exercise   reasonably  the  power  of   rejection. 

In  its  agency  system  in  these  early  days,  an 
indisposition  was  evidenced  by  the  Management  to 
make  appointments  save  in  cases  where  the  appli- 
cant was  willing  to  represent  the  Company  solely. 
This  was,  and  still  is,  the  English  system.  It  was 
attended    with    difficulty  in     the    United    States,   as 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        29 

frequently  shown  in  tlie  records  of  the  Board's 
proceedings.  It  succeeded  in  but  few  instances,  and 
at  a  later  period  was,  as  a  policy,  finally  abandoned. 

In  Boston  it  furnished  in  August,  1856,  the 
cause  for  a  change  of  agency,  Messrs.  Bdwards  & 
Brewster  making  way  for  Mr.  G.  W.  Gordon,  who, 
at  the  time  of  the  memorable  Boston  conflagration 
in  1872,  we  find  in  charge  of  the  Company's  inter- 
ests  at   that  place. 

In  New  York  City  the  business  was  showing 
a  gratifying  increase,  and  different  methods  than 
those  previously  obtaining  became  necessary.  In 
the  earlier  years  the  business  procured  had  been 
largely  on  the  personal  solicitation  of  Mr.  Pell, 
whose  time,  however,  was  now  largely  devoted  to 
opening  new  connections  in  other  parts  of  the 
country,  and  in  supervising  the  business  flowing 
in  from  quarters  in  which  the  Company  had  secured 
a  good  foothold.  The  brokerage  system  in  New 
York  was  in  its  infancy,  and  insurances  were 
secured  either  by  the  direct  solicitation  of  officers 
or     employees     of     insurance     companies,     or     as     a 


30  LIVERPOOL  AND  LONDON  and  GLOBE 

result  of  the  natural  preferences  of  insurers  for 
particular  offices,  often  coming  througli  ownership 
of  the  stocks  of  the  companies  selected,  or  by 
influences  exerted  by  Directors  with  their  friends 
in  favor  of  the  companies  in  which  they  had  an 
interest.  In  this  situation  Mr.  Robert  C.  Rathbone 
was  appointed  in  1856  a  Special  Agent  for  the 
Company  for  New  York  City,  afterwards  undertaking 
for  many  years  the  charge  of  a  branch  office 
established  in  Broadway.  He  deservedly  holds  the 
high  position  he  has  earned  in  the  estimation  of 
his   brethren   in   the  business. 

The  Philadelphia  agency  was  still  making  good 
progress,  and,  dealing  with  the  year  1857,  Fowler 
remarks, — "The  Philadelphia  agency  of  this  Asso- 
ciation was  taking  good  part  in  laying  the  foundation 
of  a  great  and  permanent  business  in  the  United 
States."  In  1859  but  thirty-three  non-State  com- 
panies were  transacting  business  in  Philadelphia, 
including  four  companies   of  foreign    countries,   viz : 

Liverpool   and   London, 

Royal,    (Bntered  the  United  States  in  1851.) 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A. 


31 


XT_._fVi  ai~n       /Entered  the  United  States  in  i859.\ 
IN  OlLUeru,    ^Retired  in  1862,  re-entered  in  1881 J 

Unity,    (Subsequently  reinsured  by  the  Liverpool  and  London.) 

It  is  interesting  to  note  in  connection  with 
tlie  introduction  of  steam  engines  at  fires  at  Phila- 
delphia, that  Mr.  Smith  was  authorized  by  the 
Company  in  February,  1858,  to  subscribe  $250 
towards  an  engine  just  then  built  for  the  Phila- 
delphia    Hose     Company.       Fowler     says     of    this 


Old  fio.l  Emgime.. 

Bum  m  Philadelphia  ih  1857  at  a  Co5t  or  2>a500. 


32 


LIVERPOOI.  AND  LONDON  and   GLOBE 


machine, — "The  weight  was  7,455  lbs.;  time  for 
raising  steam  from  cold  water  to  60  lbs.  pressure, 
II  min.,  8  sec;  vertical  throw  of  water  120  lbs. 
pressure  and  1 5^ -inch  pipe,  no  feet;  with  capacity 
for  throwing    306    gallons    of    water    per    minute." ' 

Oia  Pplnt, 


A  FIRE  ENGINE  IN    1569. 


I  The  first  experiment  in  I^ondon  with 
the  steam  fire  land-engine  in  1829,  plunger 
pump  worked  direct  from  piston  rod  of 
steam  cylinder,  did  not  then  lead  to  the 
introduction  permanently  of  such  appara- 
tus. _  More  satisfactory  results  were  at  first 
attained  by  the  floating  steam  engfine. 
From  1845  advancing  exp>erimentation  in 
construction  began  in  the  United  States, 


notably  in  Cincinnati.  In  February,  1855, 
a  large  steam  fire-engine  called  the  Miles 
Greenwood  was  brought  to  Philadelphia 
for  exhibition,  and  was  tested  by  the  Phila- 
delphia Hose  ComiMny.  The  trial  indicated 
that  the  Miles  Greenwood  could  not  throw 
an  equal  body  of  water  an  equal  distance  to 
a  good  hand  engine.— Fowler. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.  33 

This  subscription  can  be  taken  not  merely  as  an 
early  and  practical  recognition  by  tbe  Company  of 
the  advantages  to  be  secured  by  the  use  of  the  new 
device,  but  as  a  proof  of  its  disposition  to  identify 
itself  with   local   enterprise. 

On  the  23rd  April,  1858,  Mr.  James  Hendrick 
was  appointed  the  agent  at  Albany,  N.  Y.,  thus 
happily  beginning  a  connection  with  the  Company 
uninterruptedly  maintained  to  the  present  and  dis- 
tinguished by  a  mutual  confidence  and  regard  that 
has  been  productive  of  the  best  results.  Mr.  Hen- 
drick is  hale  and  hearty,  and  has  held  his 
appointment  so  long  as  to  be  now  our  senior 
representative  in  the  eastern  agency  field.  The 
writer,  who  knows  and  values  him,  trusts  that  the 
connection   may   long   be    maintained. 

In  October,  1858,  the  office  accommodation 
enjoyed  since  the  establishment  of  the  Board  in 
185 1,  was  found  to  be  inadequate  to  the  Company's 
needs,  and  much  larger  quarters  in  a  new  build- 
ing in  Pine  Street,  possessing  a  communication 
with   No.    56   Wall   Street,    were   secured. 


34  LIVERPOOL  and  LONDON  and   GLOBE 

In  January,  i860,  tlie  building  now  occupied 
by  the  Company  in  Cincinnati,  Obio,  was  purchased 
from   the   Ohio   Life   &   Trust   Company. 

The  question  of  the  personal  liability  of  the 
stockholders  for  the  losses  of  the  Company  was 
presented  in  an  active  shape  in  February,  i860,  by 
a  letter  of  inquiry  from  Superintendent  Barnes  of 
the  State  of  New  York.  The  answer  was  prompt 
and   unequivocal,   and   is   given   below: 

New  York,  16  February,  i860. 

WiLWAM  Barnes,  Esq. 

Superintendent. 

Dear  Sir: 

In  reply  to  your  favor  of  the  13th  inst.  All  share- 
holders of  this  Company  are  jointly  and  individually  liable  for 
each  and  all  of  the  engagements  of  the  Company. 

All  Directors  must  be  shareholders.  ^ 

This  liability  continues  for  three  years  after  they  may  have 
sold  their  interests  in  the  said  Company,  the  purchasers  also 
being  liable.  ' 

I  I«imited  now  to  Directors  in  United  Kingdom.       a  Now  one  year. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        35 

The  following  persons,  resident  in  this  country,  are  share- 
holders: 

[here  foi,w>ws  ust.] 

The  personal  liability  of  all  shareholders  of  this  Company 
has  been  so  repeatedly  stated  in  our  published  documents,  to 
which  the  ofl&cers  of  the  Company  have  sworn  as  true,  and  is  so 
clearly  set  forth  and  secured  in  the  Deed  of  Settlement  and  the 
Acts  of  Parliament  under  which  the  Company  is  constituted  and 
empowered,  that  it  seems  to  us  very  singular  that  such  an 
enquiry  should  now  be  made. 

However,  as  it  is  the  wish  of  the  Company  that  this  fact 
should  be  widely  known,  and  their  desire  to  the  utmost  of  their 
power  to  comply  with  every  legal  requisition,  they  readily 
answer  your  enquiries,  though  unaware  of  the  Statute  under 
which  such  enquiries  are  authorized. 

Yours  very  respectfully, 

(Signed)  Alfred  Pell,  Resident  Secretary. 
Henry  Grinnell,  Director. 

P.  S. — It  is  this  personal  liability  that  leads  the  Directors  for 
their  own  protection  and  that  of  their  fellow  stockholders  to  con- 
tinue to  increase  the  Company's  surplus  fund,  even  though  that 
fund  now  amounts  to  more  than  a  Million  of  Dollars  in  excess  of 
all  the  Company's  liabilities. 

(Signed)     Alfred  Pell,  Resident  Secretary. 


36  LIVERPOOI.  AND   LONDON  and   GLOBE 

As  evidencing  the  readiness  to  entertain  sug- 
gestions at  this  time  to  prosecute  any  line  of  busi- 
ness alleged  to  offer  good  chance  of  success,  the 
Minutes  show  that  the  question  of  burglary  insur- 
ance received  attention.  It  is  presumed  that  the 
inquiries  made  satisfied  the  Management  that  that 
branch  of  business  could  not  be  pursued  with  profit. 

Mr.  Joshua  P.  Haven,  having  retired  from 
the  San  Francisco  agency,  Mr.  W.  B.  Johnston  was 
appointed   in   his   place. 

After  a  continuous  service  as  Chairman  of  the 
New  York  Board  since  its  formation,  Mr.  James 
Brown  resigned  his  Directorship  in  November,  i860, 
to  the  great  regret  of  his  colleagues  and  of  the 
Home   Board. 

In  May,  1861,  business  was  suspended  in 
various  parts  of  the  South  affected  by  hostilities. 
Later  in  the  year  even  the  important  agency  at 
New  Orleans  had  to  be  closed,  and  for  nearly 
twenty  years  to  come  the  relations  which  had  so 
satisfactorily  existed  between  the  Company  and  Mr. 
H.   V.    Ogden   were   severed.      Later   we    shall    read 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.         37 

of  his  reappointment  as  Resident  Secretary  at  a 
time  when  a  large  territory  liad  been  placed  under 
the  supervision  of  the  Southern  Department,  with 
headquarters    at   New   Orleans. 

The  Company  had  transacted,  prior  to  the 
outbreak  of  the  civil  war,  a  proportionately  large 
business  in  the  South,  and  the  premium  shrinkage 
was   now   quite   marked. 

The  United  States  Branch  was  a  ready  pur- 
chaser of  the  U.  S.  Government  securities  issued 
from  time  to  time,  and  at  the  close  of  hostilities 
held  $252,000  of  these.  This  inaugurated  the  policy 
of  making  relatively  large  investments  in  Government 
Bonds.  The  total  has  steadily  increased,  and  (in 
July,    1898,)    the  market   value   is   $2,198,000. 

In  April,  1862,  the  Company  made  the  deposit 
of  $200,000  with  the  Insurance  Department  at 
Albany,  N.  Y.,  for  the  general  benefit  and  pro- 
tection of  policyholders  in  the  United  States,  as 
required  by  law.  It  had  already  deposited  $100,000 
under  a  law  of  the  same  State  relating  to  life 
business. 


38  LIVERPOOIv  AND  I^ONDON  and   GI.OBE 

The  Unity  Insurance  Company  of  London  was 
about  this  time  amalgamated  with  the  Liverpool  & 
London,  and  its  business  in  the  United  States 
(it  entered  in  1857)  was  turned  over  to  the  United 
States  branch  of  the  latter  Company. 

In  December,  1862,  the  property  No.  45  William 
Street  was  purchased  for  use  as  an  office.  It  may  be 
said  at  this  point  that  in  1879  ^^^  adjoining  property 
on  the  north  was  also  acquired,  being  Nos.  47  and  49 
William  Street,  and  Nos.  41  and  43  Pine  Street,  and 
upon  the  entire  area,  (about  6,900  square  feet)  a  new 
fire-proof  eight-story  building  was  erected,  which  is 
still  the  home  of  the  Company  and  its  principal  office 
in  the  United  States.  The  main  office  is  on  the  first 
floor  and  presents  an  imposing  appearance,  the  space 
occupied  being  exceptionally  large.  The  ceiling  is 
lofty — 25  feet  high — and  floor  dimensions  of  the 
chamber  are  50  by  60  feet.  When  the  building  was 
first  occupied  it  was  thought  that  the  space  so  secured 
would  be  ample  for  the  Company's  needs,  but  a  large 
gallery — first  tried  as  an  expedient — proving  insuffi- 
cient, the  Agency  and  Accountants  Departments  were 


New    Yo  r  k      0 


Present    Buii_ding. 
45-47-49    William  St.  41-43  Pine  St. 


45  Wi  LLiAM    St. 
I  S62  -  I  es  I. 


56    WauL  St. 
184-8  -  I062. 


I 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.         39 

removed  to  the  second  floor,  where  the  floor  space 
occupied  is  now   2,550  square  feet. 

The  Company  had  now  office  buildings  at  three 
points  in  this  country,  viz.,  at  New  York,  Cincinnati 
and  San  Francisco. 

In  the  same  year  a  severe  loss  was  suffered  in  the 
conflagration  at  Troy,  N.  Y.,  the  Liverpool  &  Lon- 
don heading  the  list  of  companies  affected. 

Litigation  was  now  pending  between  the  Com- 
pany and  the  Insurance  Department  of  Massachusetts 
regarding  a  tax  law,  the  former  claiming  that  as  such 
law  related  in  terms  to  corporations  only,  the  Liverpool 
&  London,  being  an  "  association "  was  not  subject 
to  the  tax.  The  case  finally  went  on  appeal  to  the 
Supreme  Court  of  the  United  States,  when  the  decision 
of  the  Massachusetts  Courts  was  affirmed.  The 
Company  was,  for  purposes  of  taxation,  held  to  be 
a  Corporation.  The  case  is  interesting  and  is  reported 
in  10  Wallace  566,  under  the  head  of  "  Liverpool 
Insurance  Company  vs.  Massachusetts." 

Early  in  1864  business  was  resumed  in  New 
Orleans  under  an  arrangement  with  a  Mr.  Darrow,  of 


40  LIVERPOOL  and  LONDON  and  GLOBE 

a  provisional  character.  In  December  of  that  year, 
Mr.  A.  Foster  Elliott  was  regularly  appointed  agent. 

On  the  4th  January,  1865,  Mr.  Richard  S.  Smith, 
having  resigned  the  Philadelphia  agency,  which  he 
had  held  with  so  much  advantage  to  the  Company's 
interests,  his  son,  Mr.  Atwood  Smith,  was  appointed 
in  his  stead,  and  he  continues  to  worthily  maintain 
the  standing  of  the  Company  established  in  earlier 
years  amidst  many  difficulties,  when  the  character  of 
its  representative  was  of  inestimable  advantage  in  the 
solicitation  of  the  patronage  of  the  American   people. 

The  firm  of  Davenport  &  Company  was  re- 
appointed agent  at  Richmond,  Virginia,  in  May,  1865, 
(and  still  represents  the  Company)  and  this  was 
followed  by  the  reopening  of  many  old  connections 
which  had  been  broken  by  the  war.  Accordingly 
we  find  that  in  April,  1866,  Messrs.  C.  T.  Lowndes 
&  Company,  of  Charleston,  S.  C,  received  the 
Company's  commission,  and  whilst  some  changes  have 
occurred  in  the  membership  of  the  firm,  the  name 
itself  is  unchanged  to-day  in  the  list  of  agents. 
Two   years   later   a   building   was   purchased   for   the 


Company's  Office  Buildings. 


1  lUill 


SMIilil 


Philadelph  IA,  PA- 


San  Fran  CI  sec,  Cal. 


Ci  N  CI  N  NATi.  Ohio. 


Montreal.,  Canada. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        41 

Company's  use  in  that  city. 

In  1867,  the  Company's  premium  income  had  so 
increased,  that  it  was  transacting  in  the  United  States 
a  fire  business  third  in  order  of  volume,  and  was 
rapidly  growing  in  public  estimation. 

It  may  be  interesting  in  this  connection  to  re- 
view the  figures  of  the  companies  having  at  that  time 
the  largest  incomes  derived  from  fire  premiums,  say 
six  companies : 

Aetna,  .  .  $3,310,862 

Home,  N.  Y.,     .  .       1,977,031 

L.  &  L.  &  G.,  .  1,686,744 

Hartford,  .  .       1,559,040 

^  Home,  Conn.,  .  1,449,574 

'  Security,  N.  Y.,  .       1,221,920 

In  August,  1868,  Mr.  W.  Stewart   Polk   became 

agent  of  the  Company  at  Baltimore,  Md. 

In  May,  1869,  the  Company  suffered  a  serious 
loss  in  the  death  of  Mr.  Alfred  Pell,  who  had  contin- 
uously represented  its  interests  as  agent  and  as  Chief 
Bxecutive  Ofl&cer  for  twenty-one  years;  who  had  borne 

I  Retired  after  Chicago  conflagration  in  1871. 


42  LIVERPOOL  AND  LONDON  and  GLOBE 

the  brunt  of  its  many  discouragements,  and  was  just 
then  enjoying  to  the  full  its  remarkable  successes. 
He  lived  to  see  the  Company  firmly  established  in 
the  United  States. 

His  son,  Mr.  Alfred  Pell,  became  Chief  Execu- 
tive under  the  title  of  Resident  Secretary  (changed 
in  187 1  to  that  of  Resident  Manager)  and  Mr.  James 
E.  Pulsford,  who  since  1857  had  been  in  the  ser- 
vice of  the  Company  at  its  New  York  office,  became 
second  officer  with   the   title   of  Assistant   Secretary. 

In  March,  1870,  a  building  was  purchased  for 
the  Company's  use  in  Montgomery,  Ala.,  so  that 
east,  west,  and  south  the  policyholders  of  The 
Liverpool  and  London  and  Globe  could  note  the  dis- 
position evinced  to  place  as  visible  assets  easily 
within  the  reach  of  attachment  a  certain  portion  of 
its  investments  in  the  United  States.  This  portion 
at  a  later  date  was   to   be   greatly  enlarged. 

In  the  twenty  years  during  which  the  New 
York  Board  had  been  in  existence,  several  changes 
in  Directorships  had  taken  place,  and  in  March, 
1 87 1,  its  membership  was   as  follows: 


CoMPANV's    OrricE    Buildings. 


Charleston,  S.  C. 


KK,  N.J. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        43 

Francis  Cottenet,  Chairman, 

Henry  Grinnell,  Deputy  Chairman, 

Alexander  Hamilton, 

R.  C.  Ferguson, 

William  F.  Cary,  Jr., 

Charles  H.  Marshall. 
Mr.  Marshall,    now    (1898)    and   for   many   years 
past   the   Chairman  of   the  New  York  Board,  became 
a  Director  in  1871. 

As  to  volume  of  premium  in  the  United  States, 
The  Liverpool  and  London  and  Globe  had  passed 
into  the  second  place.  It  had  apparently  resorted 
to  no  unusual  means  to  accomplish  this,  if  a  con- 
sideration of  its  relatively  large  lines  be  set  aside. 
Certainly,  judged  by  its  expenses,  it  had  furnished 
no  inducement  to  agents  to  favor  it,  as  it  appears 
that  whilst  the  average  rate  of  expense  of  the 
companies  at  large  had  increased  in  ten  years  from 
27.20  per  cent,  to  34.35  per  cent.,  the  percentage 
of  The  Liverpool  and  London  and  Globe  had  been 
almost  stationary  (26.53  per  cent). 

The    great    test    of    solvency    of    the    Company 


44  LIVERPOOL  and  LONDON  and   GLOBE 

was  now  near  at  hand.  The  Company  had  received, 
as  we  have  seen,  its  baptism  in  conflagration  in  New 
Orleans,  La.,  in  1854,  and  suffered  severely  later  in 
Troy,  N.  Y.,  and  in  Portland,  Maine.  It  had  for  years 
experienced  the  penalty  of  its  success  in  censorious 
criticism  from  various  quarters,  and  had  been  the 
subject  of  amusing  squibs  and  comic  illustration 
in  an  unusual  degree.  One  squib  under  the  name 
of  the  "Whirlpool  and  Undone  Insurance  Com- 
pany" dealt  with  the  alleged  reckless  practice  of 
the  Company  in  the  acceptance  of  large  lines.  A 
cartoon  largely  circulated  at  the  time,  pictured  the 
Company  as  "  John  Bull "  from  two  points  of  view. 
In  the  front  view  the  figure  was  clothed  in  a 
manner  appropriate  to  the  respectability  of  the 
character,  while  viewed  from  the  rear  the  clothing 
was  in  tatters.  This  cartoon  doubtless  satisfied  the 
idea  of  its  author  that  the  Company  was  sailing 
under  false  colors,  and  that  confidence  could  not 
be  placed  in  its  declared  resources.  So  little  was 
the  disposition  and  policy  of  the  Company  com- 
prehended  by    American    underwriters   of   that   day 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.  45 

that  tlie  opinion  was  freely  offered  by  gentlemen 
prominent  in  the  business  that  a  serious  conflagra- 
tion would  end  the  career  of  The  Liverpool  and 
London  and  Globe  in  the  United  States.  Such  a 
view  was  founded  apparently  not  upon  a  doubt  of 
the  adequacy  of  the  Company's  resources,  but 
probably  upon  a  conviction  that  in  a  time  of  dis- 
aster the  funds  of  the  United  States  Branch  would 
not  be  supplemented    by    the    Home   Office   reserves. 

Quite  suddenly  the  opportunity  for  judgment 
came.  On  the  evening  of  October  8th,  1871,  at  10 
o'clock  at  the  City  of  Chicago,  began  the  confla- 
gration which  raged  fiercely  for  twenty-eight  hours, 
and  which  destroyed  property  covering  2,124  acres. 
Did  space  permit,  it  would  be  useful  as  well  as 
interesting  to  publish  an  account  in  detail  of  this 
remarkable  event,  which  furnished  at  once  a  gigan- 
tic and  enduring  object  lesson  to  the  insuring 
public,  and  to  fire  underwriters  in  every  part  of 
the  globe. 

Advantage  has  been  taken  of  the  concise 
report    of   some    of   the    results    of  this   fire   appear- 


46  LIVERPOOL  and  LONDON  and  GLOBE 

ing  in  Fowler's  History  of  Insurance^  and  a  portion 
is  here  reproduced: 

"  There  was  a  panic  among  the  insured  in  sus- 
pended non-State  companies,  excitement  and  dilemma 
among  the  agencies,  and  the  replacing  of  the  risks 
of  embarrassed  offices  in  unaiffected  companies  made 
a  rush  and  increase  of  policy  writing  and  record 
that  taxed  the  extent  of  existing  and  additional 
clerical  force.  The  query,  Are  you  insured?  had  a 
new  emphasis.  Non-American  companies  were  high 
in  public  favor.  The  Liverpool  and  London  and 
Globe,  next  to  the  Aetna,  of  Hartford,  greatest  loser 
outside  of  two  swept-away  Illinois  offices,  was  an 
international  insurer  not  to  be  affected  disastrously 
by  fire  havoc  in  one  locality. 

"  This  conflagration  continued  for  twenty-eight 
hours  before  abating  in  destructiveness.  Rapidity  of 
combustion  was  its  most  marked  characteristic,  and 
it  was  attended  with  striking  phenomena  of  evolved 
inflammable  gases.  With  the  intensity  of  the  heat, 
stone  disintegrated  and  crumbled  more  rapidly  than 
wood  was   consumed.      It  began   at   lo  P.  M.   in   a 


Ruins,  Chicago   Conflagration,  I87i 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        47 

cow  stable,  in  the  west  division  of  the  city,  with  a 
strong  gale  blowing  from  the  south-west,  which 
carried  the  flame  to  the  north  division — a  wooden 
section.  The  area  burned  over  was  2,124  acres,  or 
nearly  three  and  one-half  square  miles — seventy- 
three  miles  of  streets —  forming  a  parallelogram 
whose  width  was  about  one-third  its  length.  The 
fire  was  least  destructive  in  the  quarter  of  its 
origin — the  west  division.  Number  of  buildings 
with  contents  burned  was  variously  enumerated  from 
13,400  to  25,000,  six-tenths  in  the  north  division — 
about  nine-tenths  of  the  buildings  therein  being 
destroyed  (including  600  stores  and  100  manufac- 
tories), 1,500  acres  burned  over.  Included  in  the 
approximately  3,000  buildings  destroyed  in  south 
division  were  (lowest  estimate)  1,600  stores,  twenty- 
eight  hotels,  and  sixty  manufactories.  In  the  west 
division  about  1,000  buildings  (lowest  estimate) 
were  burned.  In  the  burned  district  thirty-nine 
churches  were  consumed,  nearly  all  the  banks,  and 
the  most  prominent  business  blocks.  Fire  Marshall 
Williams   estimated    the    total   loss   at   $190,526,500, 


48  LIVERPOOL  AND  LONDON  and   GLOBE 

or  $7,621  per  building;  he  placing  the  number  of 
buildings  destroyed  at  25,000.  Total  loss  on  buildings 
was  enumerated  by  the  fire  marshall  at  $52,000,000, 
personal  property  $138,526,500.  Building  loss  on 
business  blocks  stated  as  $33,515,000;  on  brick  and 
frame  dwellings  and  light  business  places,  $8,808,420, 
leaving  $9,676,580  to  represent  the  value  of  all 
other  real  estate  destroyed.  Of  the  total  loss  on 
personal  property,  $41,000,000  were  assigned  to 
household  goods  (an  average  of  over  $2,000  for  each 
burned  personal  occupancy),  and  to  grain  and  flour 
$1)332,500 — five  destroyed  grain  elevators  contained 
1,642,000  bushels  of  grain.  Stocks  and  business 
furniture  were  counted  at  $26,775,000;  dry  goods 
(merchandise)  $13,500,000;  of  manufactures — stock, 
machinery  and  products — the  value  given  as  lost 
was  $13,500,000,  etc.  Of  total  loss  of  contents 
$58,710,000  were  assigned  to  personal  effects,  and 
$79,816,500  to  business   property. 

"As  elsewhere,  a  fraction  of  the  amount  of  in- 
surance at  risk  in  the  burned  district  was  carried  by 
non-licensed  companies.      According  to  the  excellent 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.  49 

statistical  tabulation  of  tlie  Illinois  bureau  of  insur- 
ance, (C.  E.  Lippincott,  auditor  of  public  accounts, 
William  Stadden,  compiler  of  statistics),  twenty- 
two  authorized  Illinois  companies  had  $34,426,474 
at  risk  in  the  burned  district,  173  companies 
of  other  States  $59,389,524,  and  six  companies  of 
Great  Britain  $6,409,782;  in  all  $100,225,780  of 
insurance  in  201  authorized  companies.  Only  $180,208 
of  the  $96,553,721  of  losses  claimed  were  resisted. 
Total  capital  and  net  surplus  of  the  201  companies, 
according  to  the  official  statement  of  asset  values, 
were  $95,214,151.  Of  the  201  companies,  sixty- 
eight  were  bankrupted  (besides  those  escaping  col- 
lapse by  the  character  of  their  settlements) ;  seven- 
teen Illinois  and  fifty-one  other-state  companies 
insuring  about  $24,000,000  in  the  district;  the  paid- 
up  capital  and  net  surplus  of  these,  as  represented, 
amounted  to  $24,867,109.  By  May  31,  1872,  it  was 
ascertained  that  $37,998,986,  of  the  insured  loss  had 
been  paid  (with  a  salvage  and  discount  on  $43,172,747 
of  loss  claimed,  of  $5,173,761),  and  it  was  esti- 
mated that  $12,106,817  more  would  be  paid,  making 


50  LIVERPOOL  and  LONDON  and  GLOBE 

a  total  of  $50,105,803,  or  51.90  per  cent,  paid  of 
the  aggregate  insured  loss  claimed.  It  was  after- 
wards estimated  that  less  than  $40,000,000  were  paid 
in  all.  The  six  British  offices  paid  93.08  per  cent, 
of  the  claims  against  them  by  May  31 — more  than 
one-half  being  paid  by  The  Liverpool  and  Ivondon 
and  Globe,  i.  e.^  $3,270,780." 

Fowler  continues:  "Chicago  had  four  times 
greater  fire  loss  in  two  days  than  Philadelphia  in 
all  its  history,  but  in  the  last  three  years  Phila- 
delphia had  burned  nearly  three  millions  per  annum, 
and  the  conflagration  prospects  were  different  from 
what  had  prevailed.  Further  than  this,  the  signifi- 
cance of  Chicago  was,  that  no  city  can  insure  itself 
(or,  in  other  words,  city  offices  writing  merely  local 
risks  were  predestined  failures  when  the  severity  of 
trial  came);  and  though  as  yet  the  agency  system 
had  inadequately  brought  the  concentrated  general 
security  to  bear  upon  each  particular  point,  the  in- 
surance economy  inculcated  the  principle  of  the 
widest  distribution  of  loss,  and  *bear  ye  one- 
another's  burdens'  was  a  sacred  injunction." 


SI 

1:1 


I 

"I 


\ 


C^2 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        51 

Toucliing  tjhe  extent  to  whicli  tlie  Company 
was  involved  in  this  catastrophe,  it  must  not  be 
forgotten  that  at  the  time  of  the  occurrence  the 
business  it  was  transacting  in  the  United  States 
was,  in  volume  of  premium,  second  only  to  that 
of  the  Aetna  Insurance  Company  of  Hartford,  and 
was  largely  in  excess  of  that  of  any  foreign  com- 
pany. After  twenty-three  years  of  work  in  America, 
The  Liverpool  and  London  and  Globe  had  fully 
embarked  in  the  agency  business  side  by  side 
with  the  great  American  companies  of  that  day, 
and  under  a  policy  differing  in  no  material  degree 
from  that  which  governed  them,  and  its  loss, 
judged  by  the  volume  of  its  business,  bore  on  the 
whole  no  unfavorable  comparison  with  its  principal 
competitors,  alike  sufferers  with  it.  Large  as  was 
this  loss,  it  fell  short  of  the  sum  total  of  satisfied 
claims  on  the  Aetna,  a  company  possessed  of  an  enter- 
prise modified  and  controlled  by  the  conservatism 
which   has  been  a  prominent   feature  in  its  history.  ^ 

1  Losses  reaching  $2,000,000  and  over  [Arg^us] 
Aetna  of  Hartford,  $3,766,423 

The  Liverpool  and  London  and  Globe,    3,270,780 
Home,  N.  Y.,  3,071,390 

.  North  British  and  Mercantile,  2,278,753 

Hartford,  2,000,000 


52  LIVERPOOL  AND  LONDON  and   GLOBE 

Mr.  William  Warren  was  now  in  charge  in 
Chicago  as  General  Agent.  After  leaving  Cleveland, 
O.,  he  joined  Mr.  Robert  Knight  for  a  time  in 
Cincinnati,  O.,  as  Associate  General  Agent,  but  for 
some  years  prior  to  the  Chicago  fire  (since  1866) 
he  had  a  separate  field  of  supervision,  reporting  to 
the  New  York  office.  It  is  well  to  tell  the  story 
of  the  action  of  this  worthy  gentleman  and  accom- 
plished representative  in  the  emergency  presented. 
His  son,  Mr.  William  S.  Warren,  now  Resident 
Secretary  of  the  Chicago  Branch  of  the  Company, 
and  himself  a  spectator  of  a  remarkable  scene  dur- 
ing  the  fire,   writes  of   it   as  follows : 

"  When  the  appalling  disaster  of  the  *  Great 
Fire'  of  Chicago,  October  9th,  187 1,  and  the  enor- 
mous losses,  amounting  to  nearly  two  hundred 
millions,  had  become  fully  known;  among  the  many 
thousands  who  had  sustained  losses,  the  responsi- 
bilities and  the  possible  payment  of  claims  by  the 
insurance  companies  having  policies  involved  in  this 
terrible  catastrophe  was  the  question  of  the  hour, 
and  many  were   the  inquiries  passed  among  Chicago 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        53 

business  men,  whose  fortunes  liad  apparently  been 
wTecked,  as  to  wbat  proportion  of  the  losses  the 
insurance  companies  would  be  able  to  pay.  What 
amount  of  all  its  known  millions  of  loss  will  The 
Liverpool  and  London  and  Globe  Insurance  Com- 
pany pay? 

"On  the  morning  of  October  loth,  and  while 
the  fire  was  still  in  progress,  there  was  a  large 
gathering  of  business  men  of  Chicago  on  the  lawn 
in  front  of  the  country  home  of  Mr.  William 
Warren,  the  General  Agent  of  The  Liverpool  and 
London  and  Globe  Insurance  Company,  at  Lake 
Forest,  111.  Many  of  these  gentlemen  representing 
the  leading  firms  of  Chicago  had  received  tele- 
grams from  other  Chicagoans  who  had  insured 
all  their  property  in  that  Company,  and  whose 
future   was   thus   largely   placed  in   its   keeping. 

"While  discussing  the  fire,  its  limits,  and  the 
great  loss,  Mr.  Warren  was  approached  by  an 
elderly  gentleman,  having  a  large  family  solely 
depending  upon  him  for  support,  all  of  whose 
buildings    had   been    destroyed,   and    all    insured    in 


54  LIVERPOOL  and  LONDON  and  GLOBE 

The  Liverpool  and  London  and  Globe  Insurance 
Company.  He  said,  'All  I  Have  left  in  the  world 
is  The  Liverpool  and  London  and  Globe  Insurance 
Company.'  With  a  face  white  with  intense  anxiety 
and  alarm  he  awaited  Mr.  Warren's  reply,  realizing 
that  upon  the  answer  depended  his  own,  as  well 
as  the  fate  of  many  others.  The  response  was 
quickly  given  by  the  representative  of  that  Com- 
pany, who  said :  '  You  could  not  be  more  safe  had 
you  every  dollar  of  the  amount  of  your  policies  in 
your  pocket  at  the  present  time,  for  The  Liverpool 
and  London  and  Globe  Insurance  Company  will 
meet  all  its  obligations  to  the  last  dollar.'  At 
this  reply  the  revulsion  of  feeling  was  too  great 
and  the  gentleman  was  completely  overcome,  as 
were  many  of  the  bystanders.  The  response  was 
received  with  heart-felt  gratitude,  and  was  taken 
up  by  each  of  the  gentlemen  present  and  flashed 
over  the  country  as  quickly  as  possible  to  all 
who  were  known  to  be  interested.  The  incident 
will  never  be  forgotten  by   those  present. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        55 

"It  is  unnecessary  to  add  that  the  predictions 
of  the  payment  in  full  by  The  Liverpool  and 
London  and  Globe  Insurance  Company  of  all  its 
losses  were  promptly  and  honorably  fulfilled.  The 
eJBFect  of  the  prompt  action  of  that  Company  in 
placing  $3,000,000  in  cash  in  New  York  to  pay 
these  losses,  besides  donating  $10,000  to  the  Chicago 
sufferers,  was  of  incalculable  benefit  to  Chicago, 
and  the  action  was  fully  appreciated  by  its  citizens." 

In  the  meantime  the  Company's  officials  in 
New  York  were  very  busy.  A  special  meeting  of 
the  Directors  was  summoned,  and  a  first  estimate 
of   loss   was    cabled   to   Liverpool   as    $2,000,000. 

The  condition  of  the  United  States  Branch  on 
31st  December,  1870,  as  reported  to  the  Insurance 
Department  of  the  State  of  New  York  was  as 
follows : 

Aggregate  assets,         -        -         $3,054,361.24 

Aggregate  liabilities,        -         -      1,588,791.11 
Surplus,        -        -        -         $1,465,570.13 

To  materially  reduce  this  surplus  would  clearly 
have   been   most  undesirable,  and   the   United   States 


56  LIVERPOOL  and  LONDON  and  GLOBE 

Brancli  confidently  expected  that  the  entire  esti- 
mated loss  would  be  borne  by  the  Home  Office. 
Nor  was  it  disappointed,  for  the  anxiously  expected 
response  came  by  cable  on  the  i6th  October  in 
the   following  words : 

"  Draw  as  required  up  to  two  million  dollars. 
If   any  advantage   in   bank   credit   cable   us." 

The  question,  then,  was  solved.  The  parent 
was  both  willing  and  able  to  succor  its  offspring 
to  the  fullest  extent  of  its  needs,  and,  more  than 
this,  foreseeing  the  effects  of  the  great  enlargement 
of  its  business  in  the  States,  was  desirous  of  still 
further  strengthening  during  the  following  year  the 
funds   in   the   hands   of   its   United    States   Trustees. 

Whilst  we  find  that  in  the  statement  of  the 
United  States  Branch  on  31st  December,  187 1,  as 
made  to  the  Insurance  Department  of  the  State  of 
New  York,  its  surplus  had  in  fact  been  decreased 
during  the  year  by  over  $200,000,  it  must  be 
borne  in  mind  that  the  estimate  of  loss  of  $2,000,000 
by  the  Chicago  fire  grew  finally  to  the  large 
figures   of   $3,270,780. 


CHICAGO 

eHOWING    THE 

Burnt  District 


8 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.  59 

Tlie  effect  of  the  drafts  was  to  reduce  the  net 
surplus    of    the    Home    Office    at     December     31st, 

1871,  to   $1,826,638.34. 

As  if  this  test  of  solvency  were  inadequate, 
fate  was  to  furnish  another  and,  in  one  sense, 
greater  ordeal   to   the   Company.     On  November  9th, 

1872,  at  7:15  P.  M.,  began  the  Boston  conflagra- 
tion. This  was  to  affect  some  companies  scarcely 
touched  by  the  Chicago  calamity,  notably  those 
hailing  from  Philadelphia,  and  to  place  others, 
seriously  weakened  by  the  earlier  fire,  in  no  con- 
dition to  longer  transact  business.  Fowler  reports 
this   fire   in   the   following  words : 

"  The  Boston  flames  were  first  seen  as  bursting 
from  the  Mansard-roof  windows  of  a  five-story 
granite  building  on  Summer  Street,  comer  of 
Kingston;  the  engine-room  having  ignited,  the  fire 
ran  up  the  hoistway  of  the  elevator  to  the  Mansard 
loft.  While  the  elevator  as  a  flue  opening  at  the 
top  of  the  building  is  an  escape  from  the  spreading 
of  flame,  the  elevator  closed  at  top  is  a  passage 
way    for    the    distribution    of    flame.      An    epizootic 


6o  LIVERPOOL  and  LONDON  and   GLOBE 

prevailing  among  horses,  there  was  some  delay  in 
bringing  the  steam  fire-engines  to  the  spot,  but 
for  nearly  three-quarters  of  an  hour  the  flames  were 
confined  to  the  building  in  which  they  originated, 
owing  to  the  light  velocity  of  the  wind,  until  the 
augmenting  heat  energized  the  draughts  and  the 
fire  was  communicated  to  the  window  casings  on 
the  opposite  side  of  Summer  Street.  Then  the  fire 
spread  like  a  fan  northward,  and  after  a  detour  to 
the  west,  further  progress  ceased  at  2  P.  M.,  on 
the  loth.  Sixty-five  acres  of  a  mercantile  district 
were  swept,  776  buildings  destroyed,  (709  brick  or 
stone),  and  in  the  number  were  only  sixty  dwell- 
ings. Total  firms  and  business  houses  burned  out, 
about  930,  one-third  of  which  were  shoe  and 
leather  dealers.  The  real  estate  was  assessed  at 
a  value  of  $13,591,900,  and  the  structures  were 
probably  worth  $20,000,000.  Loss  on  personal 
property  was  estimated  at  $60,000,000.  Aggregate 
insurance  was  about  $56,000,000  of  which  $36,000,000 
were  in  Massachusetts  companies.  This  fire  caused 
the     insolvency    of    twenty-six     Massachusetts     com- 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A. 


6i 


panics,  whose  losses  were  $30,000,000,  with 
$16,000,000  of  assets.  Four  New  York  companies 
and  another  other-State  company  also  collapsed; 
two  of  the  former,  the  Market  and  the  Washington, 
were  resuscitations  or  new  incorporations  after  Chicago 
bankruptcy.  Again  the  foreign  companies  paid 
their  losses,  (The  Liverpool  and  London  and  Globe, 
and  the  Royal  sustaining  more  than  one-half  of 
the  loss  of  the  foreign  companies)  and  the  other- 
State   companies  paid   about  95  per  cent,  of  theirs." 

Judy,  or  Thb  I^okdox  Sbkio-Comic  JouawAi..— Nov.  20, 1872.— (Cartoon  reduced.) 


"HELP,    HELP!" 


62  LIVERPOOL  AND  LONDON  and   GLOBE 

Once  more  tlie  Home  Office  of  The  Liverpool 
and  London  and  Globe  was  called  upon  for 
exceptional  help,  and  again  it  responded  without 
delay  and  without  complaint.  The  cable  message 
was  received  on  November  nth,  and  was  as  follows: 

"  Draw  for  loss  at  Boston  as  required. 

Brocklebank." 

The  name  appended  to  this  comforting  message 
was  that  of  the  Chairman  of  the  Home  Board, 
Sir  Thomas  Brocklebank,  who  in  those  stirring 
times  appreciated  to  thft  full  the  exigencies  of  the 
situation,  and  the  possibilities  of  ultimate  advantage 
to  the  Company. 

On  the  31st  December,  1872,  the  United  States 
Branch  surplus  was  $1,291,589,  an  increase  during 
the   year   of   $39,000. 

The  sums  actually  paid  for  losses  by  the 
Boston  fire  aggregated  $1,427,729,  and  if  to  this 
we  add  the  total  adjusted  loss  at  Chicago,  we 
have  a  grand  aggregate  of  $4,698,509  disbursed 
within  fifteen  months   for  the  relief  of  policyholders 


^ 


\^\  a  n  A  ff 
or  The 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        63 

affected  by  conflagration,  apart  from  the  ordinary- 
losses  of  tlie  Company.  All  of  tlie  individual  claims 
involved  in  this  large  sum  were  paid  as  adjusted — 
there  and  then,  without  discount. 

Let  us  note  the  effect  of  the  calls  of  the 
United  States  Branch  on  the  parent  office. 

To  stand  so  severe  a  strain  without  impairment 
of  capital  might  well  excite  surprise,  and  yet  by 
the  sworn  statement  of  the  Home  Office  at  31st 
December,  1872,  it  was  seen  that  the  Company 
had  still  a  workable  net  surplus.  No  stockholder 
had  been  assessed  one  dollar,  nor  had  any  addi- 
tional stock  been  placed  on  the  market.  For  one 
year  only  was  the  dividend  suspended,  after  which, 
beginning  with  10  per  cent.,  it  has  grown  vdthout 
retrograding,  until  at  the  annual  meeting  of  the 
stockholders  held  in  May  1898,  90  per  cent,  was  voted. 

And  if  one  looks  to  the  fluctuations  in  the 
market  price  of  the  stock  as  a  barometer  of  the 
confidence  of  the  investing  public  in  the  resources 
and  management  of  the  Company  in  this  trying 
emergency,   one   fails   to   find   evidences    that    assess- 


66  UVKRPOOL  AND  LONDON  and  GLOBE 

large  native  institutions,  and  by  companies  possess- 
ing such  strong  local  influences  as  would  ensure 
tlie  exercise  of  a  choice  of  risks.  All  this  was 
now  to  be  changed.  The  Liverpool  and  London  and 
Globe  took  its  position  amongst  the  great  companies 
of   the   land. 

Hardly  less  satisfactory  were  the  new  relations 
established  with  American  companies.  Viewed  before 
as  an  intruder,  its  position  in  a  time  of  calamity 
uncertain,  and  known  as  an  aggressive  competitor, 
respect  and  confidence  now  took  the  place  of  dislike 
and  distrust,  and  the  Company  henceforth  acquired 
an  influence  in  the  councils  of  insurance  through- 
out  the   United   States. 

The  large  expansion  of  business  following  an 
increase  in  the  prestige  of  the  Company  in- 
duced a  change  to  the  Departmental  system  in  the 
supervision  of  business,  and  in  September  1875, 
Departments  were  established,  with  local  Boards  of 
Directors,  in  San  Francisco,  Chicago  and  New 
Orleans,  Messrs.  W.  B.  Johnston,  William  Warren, 
and     A.    Foster    Elliott    becoming    respectively    the 


Henry  W.  Eaton 


Geo.  W.  H  o  yt. 


John   J .   M- 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.         67 

Resident  Secretaries,  reporting  direct  to  the  Home 
Office.  New  York  remained,  as  before,  the  principal 
office  in  the  United  States,  with  Mr.  Alfred  Pell  as 
Resident  Manager,  Mr.  J.  B.  Pulsford  as  Resident 
Secretary,  and  Mr.  Arthur  Pell  as  Assistant  Secre- 
tary. 

On  the  retirement  of  Mr.  Pell  in  1876  to  assume 
the  position  of  manager  of  the  Commercial  Union 
Assurance  Company,  Mr.  Pulsford  became  Resident 
Manager,  Mr.  Arthur  Pell,  Deputy  Manager,  and 
Mr.    Charles   Sewall,   Assistant   Deputy   Manager. 

The   Directors  in  New  York  at  this  date  were: 

Robert   B.   Mintum,  Chairman, 
Charles   H.  Marshall, 
Alexander   Hamilton, 
William   F.  Cary,  Jr., 
Anson   Phelps   Stokes. 

In  1878,  Mr.  Charles  Sewall  having  accepted 
the  position  of  assistant  manager  under  Mr.  Pell 
of  the  United  States  branch  of  the  "  Commercial 
Union,"   and   Mr.   Arthur   Pell    having  retired    from 


68  LIVERPOOL  AND  LONDON  and   GLOBK 

active  business,  Mr.  Henry  W.  Eaton,  who  had 
entered  the  service  of  the  Company  in  1866  at  the 
Home  Office  in  Liverpool,  and  who  became  in  1876 
Resident  Secretary  of  the  West  of  England  Branch, 
was  selected  for  the  position  of  Deputy  Manager. 
Mr.  George  W.  Hoyt,  who  entered  the  New  York 
Office   in    1871,   became    Assistant   Deputy   Manager. 

The  United  States  premiums  of  the  Company 
for  the  year  1879  amounted  to  $2,595,521.  A 
reaction  had  set  in  from  the  large  rates  (we  may  say 
emergency  rates)  following  the  conflagration  period, 
and  now  scarcely  a  local  Board  in  the  country 
remained  in  existence.  The  results  for  some  time 
to  come  to  the  companies  at  large  were  very 
unsatisfactory.  The  Insurance  Superintendent  of  the 
State  of  New  York  ascertained  the  net  loss  of  the 
companies  reporting  to  his  department  for  this  year 
to   have   been   $5,854,997. 

Towards  the  close  of  1879,  Mr.  Robert  Knight 
of  Cincinnati  retired,  Mr.  James  M.  De  Camp 
receiving  the  appointment  as  General  Agent  under 
the  New  York  office  for  the  States  of  Ohio,  Indiana, 


Henrv    V.   Ogden. 


CUARENCE      F.     Low. 


J.  G.   Pe 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        69 

Kentucky,  Tennessee  and  Arkansas,  a  position  he 
still  holds.  Mr.  De  Camp  had  already  served  the 
Company  for  many  years  in  the  capacity  of  Special 
Agent  in   New   England. 

Mr.  A.  Foster  Elliott  of  New  Orleans,  died  in 
April,  1879,  and  was  succeeded  by  the  Company's 
old  acquaintance  Henry  V.  Ogden,  who  remained 
in  charge  of  the  New  Orleans  Department  until 
relieved  by  the  Company  in  1896  under  a  retiring 
allowance,  having  served  in  all  about  twenty-five  years. 
He  is  spending  the  evening  of  his  days  at  Mil- 
waukee, Wis.,  and  any  reader  of  these  pages 
visiting  that  city  will  be  repaid  by  calling  upon 
him.  The  only  introduction  needful  will  be  a  state- 
ment that   the  visitor  is   a  friend  of   the   Company. 

Mr.  Ogden's  successor  as  Resident  Secretary 
was  Mr.  Clarence  F.  Low,  for  manj^  years  Assist- 
ant Secretary  of  the  New  Orleans  Branch.  Mr.  Low 
is  still  in  charge  of  that  department.  The  present 
Assistant  Secretary'  is  Mr.  J.  G.  Pepper,  who 
received  his  appointment  after  many  years  of  service 
as   third   officer.     The   territory  under   the   charge  of 


70  LIVERPOOL  and   LONDON  and  GLOBE 

the  New  Orleans  Centre  is  as  follows:  Louisiana, 
Mississippi,   Alabama,    Georgia,    Florida   and   Texas. 

In  San  Francisco  in  November  1879,  the 
Company  had  to  lament  the  sudden  decease,  as 
the  result  of  an  accident,  of  Mr.  Wm.  B.  Johnston 
whose  place  was  filled  by  Mr.  George  Mel  until 
August  1 88 1.  He  was  succeeded  by  Mr.  C.  D. 
Haven,  the  present  incumbent  of  the  position,  who 
had  had  long  experience  as  an  officer  of  a  local 
company  in  San  Francisco.  To  all  who  are 
acquainted  with  insurance  matters  on  the  Pacific 
Coast,  the  name  of  Mr.  Haven  will  be  extremely 
familiar.  His  assistant  is  Mr.  C.  Mason  Kinne, 
who  is  an  old  servant  of  the  Company.  The 
territory  covered  by  the  San  Francisco  Branch  is 
as  follows:  California,  Nevada,  Oregon,  Washing- 
ton,  Arizona,   Idaho   and   Alaska. 

Mr.  William  Warren  of  Chicago  lived  for  many 
years  following  the  stirring  events  in  which  he 
played  so  important  a  part,  and  in  which,  as  we 
have  seen,  his  standing  in  the  community  was  such 
that   his   simple   word,   at    a   time   when   old   institu- 


San   Francisco   Officers. 


Chas.D.   Haven. 


C.  Mason     Kinne. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        71 

tions  were  crumbling  away,  served  to  effectually 
allay  the  apprehension  of  his  fellow-citizens  touch- 
ing the  ability  and  disposition  of  the  Company  to 
satisfy  its  contracts.  He  had  been  closely  identified 
with  the  early  up-hill  work  of  the  Company  both 
as  Agent  and  Manager,  and  survived  to  see  the 
institution  he  so  faithfully  served  attain  a  high 
position   in   the   country. 

Mr.  William  S.  Warren  succeeded  Mr.  William 
Warren  in  November,  1889,  sharing  with  Mr. 
George  Crooke  the  responsibility  of  management 
until  the  retirement  of  the  latter  in  1892.  Mr. 
Warren's  entire  business  life  has  been  passed  in 
the  service  of  the  Company.  He  has  as  assistants 
Messrs.  George  H.  Moore  and  John  V.  Thomas. 
Mr.  Moore  became  connected  with  The  Liverpool 
and  London  and  Globe  in  1882  as  State  Agent  for 
Michigan,  and  January  ist,  1893,  was  appointed 
Assistant  Resident  Secretary.  Mr.  Thomas  was 
commissioned  local  Agent  of  the  Company  on  June 
4th,  1874;  October  15th,  1881,  he  received  the 
appointment   of    Special   Agent,   and    one   year   later 


72  LIVERPOOL  AND  LONDON  and   GLOBE 

that  of  State  Agent  for  Illinois  until  called  to  his 
present  position  January  ist,  1893.  The  territory 
under  the  supervision  of  the  Chicago  office  is  as 
follows :  Illinois,  Michigan,  Iowa,  Wisconsin,  Min- 
nesota, Missouri,  Kansas,  Nebraska,  Colorado,  Dakota, 
Montana,  Utah,  Wyoming  and  New  Mexico. 

By  the  second  great  fire  in  Boston  occurring 
in  1889,  the  Company  was  relatively  not  a  large 
loser,  but  it  disbursed  its  full  share  in  that  year 
at  Lynn,  Mass.,  and  other  places  unfavorably 
affected  by  conflagrations,  the  result  of  these  excep- 
tional demands,  added  to  ordinary  claims  on  the 
United  States  business,  entailing  a  loss  for  the 
twelve    months   ending    December    31st  of   $164,564. 

The   account  for    that   year    stands    as   follows: 

Fire  premiums,        .         .         .  $4,273,371 
Total   expenditure,           $4,102,971 

Increase   of  liability,            334,964  4>437>935 

Loss,        ...  $    164,564 

Mr.  James  B.  Pulsford,  after  over  thirty  years 
of    service,    retired    in    June    1887,    receiving    as    a 


The   Late    Wm. Warren. 


Wm.  S- Warren. 


Geo-H.  Moore. 


John     V.   Thomas. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.         73 

mark  of  the  Company's  appreciation  an  election  to 
a  place  in  the  New  York  Board  of  Direction, 
and  the  grant  of  an  annuity  during  his  lifetime. 
He  is  now  eighty-two  years  of  age,  is  singularly 
vigorous  for  a  man  of  his  years,  and  the  Com- 
pany still  enjoys  the  benefit  of  that  good  judgment 
which  for  so  long  a  time  was  exercised  in  his 
ofi&cial  capacity  to  its  advantage.  His  photograph 
copied  on  another  page  represents  him  at  eighty 
years   of   age   and   is   an   excellent   likeness. 

Mr.  Henry  W.  Baton  became  Resident  Mana- 
ger, and  Mr.  George  W.  Hoyt,  Deputy  Manager, 
positions  they  still  occupy.  Mr.  John  J.  Martin 
was  more  recently  constituted  third  officer,  with  the 
title  of  Agency  Superintendent.  He  entered  the 
service   of   the   Company   in    1872. 

The  membership  of  the  New  York  Board  of 
Directors   is   now    (July  1898)   as   follows : 

Charles   H.    Marshall,    Chairman, 

John    A.    Stewart, 

James   B.    Pulsford, 

John    Crosby   Brown, 

Bdmund   D.    Randolph. 
10 


74  LIVERPOOL  AND  LONDON  and  GLOBE 

Of  these,  tlie  Trustees  of  funds  for  the  general 
benefit  and  protection  of  policyholders  in  the 
United  States   are: 

Charles   H.    Marshall, 
John   A.   Stewart, 
John   Crosby   Brown. 

Mr.  John  A.  Stewart,  president  of  the  United 
States  Trust  Company,  joined  the  New  York  Board  in 
February,  1881,  and  was  thereupon  made  a  Trustee. 

Mr.  John  Crosby  Brown,  of  Messrs.  Brown 
Brothers  &  Company,  was  elected  as  Director  and 
Trustee  in  January,  1890.  His  election  brought 
to  the  Board  once  more  a  representative  of  the 
house  which  had  taken  so  large  an  interest  in  the 
Company  at  its  entry  into  this  country,  his  father, 
the  late  James  Brown,  having  for  many  years  been 
Chairman   of  its   first   Board  of   Directors. 

In  November,  1890,  Mr.  Edmund  D.  Randolph, 
then  president  of  the  Continental  National  Bank, 
joined  the  New  York  Board.  He  is  now  chairman 
of  the  executive  committee  of  the  New  York  Life 
Insurance   Company. 


New     York    Directors. 


John  Crosby  drown. 


J  OHN    A.  S' 


Chari-es  H.Marshaul. 


;A)>/.ES     Z.  .    r-^i_SP"ORD. 


,  ^      „  .    ,-  „  ,,  ^  C  ;_PH. 


i^ 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        75 

Messrs.  William  F.  Gary,  Jr.,  Robert  B.  Mintum 
and  Alexander  Hamilton,  Directors  in  New  York, 
died  during  office.'  Mr.  Anson  Phelps  Stokes 
resigned  in  December,  1889,  in  pursuance  of  an  ex- 
pressed determination  to  retire  from  all  Directorships. 

That  the  important  services  performed  by  all 
gentlemen  holding  the  position  on  the  Boards  of 
the  Company  should  receive  the  warm  recognition 
of  the  Home  Board  and  the  stockholders  as 
expressed  at  annual  meetings  on  very  many  occa- 
sions, is  surprising  to  none  who  have  had  the 
knowledge  of  the  rare  judgment  with  which 
important  questions  of  investment  or  of  general 
policy  have  been  disposed  of  at  all  times  in  the  his- 
tory  of  the   Company   in   the   United  States. 

The  membership  of  the  Chicago  Board  as  now 
constituted  is   as   follows:^ 

Ezra  J.   Warner,   Chairman. 
L.   Z.   Leiter. 

That   of  San   Francisco: 

William   Alvord,   Chairman. 

I  Mr.  Caiy,  died  Sept  9,  1880.  Mr.  Mintum,  died  Dec  15, 18B9. 

Mr.  Hamilton,  died  I>ec.  30,  1SS9. 

3  Mr.  Henry  W.  King,  died  this  year  (1898). 


76  I.IVERPOOL  AND  LONDON  and  GLOBE 

William   Babcock, 

Levi   Strauss, 

Lovell   White. 
And   that  of  New   Orleans : 

Gustaf   R.   Westfeldt,  Chairman. 

L.   C.   Fallon, 

Lucas   B.   Moore, 

C.  M.  Soria. 
In  referring,  thus  far,  to  the  funds  of  the  Com- 
pany in  the  United  States  at  various  dates,  and 
liabilities  relating  thereto,  nothing  has  been  said 
about  the  treatment  of  these  assets  and  liabilities 
in  order  to  arrive  at  the  "capital"  of  the  Company 
in  the  United  States.  Section  27  of  the  Insurance 
Laws  of  the  State  of  New  York  provides  that  the 
capital  of  a  company  of  a  foreign  country  admitted 
to  do  business  in  that  State  after  May  27th,  1880, 
shall  not  be  less  than  $500,000  "deposited  with 
Insurance  Departments  or  held  in  trust  by  Trustees 
approved  by  the  Superintendent  of  Insurance,  and 
citizens  of  the  United  States,  or  deposited  with  a 
trust    company    to    be    approved    by    him,   for    the 


Chicago    Directors. 


E.J.  Warn  e  r 


''        L.  Z.  Leiter 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        77 

general  benefit  and  security  of  all  its  policyholders 
in  the  United  States."  The  aggregate  value  of  the 
securities  deposited  in  the  prescribed  way  (the 
securities  being  limited  to  such  as  fire  insurance 
companies  of  the  State  of  New  York  may  invest 
their  funds  in)  after  deducting  liabilities  in  New 
York  State  and  the  other  States  of  the  United 
States,  constitutes  the  capital  of  the  company.  It 
will  be  observed  that  the  minimum  capital  of 
$500,000  relates  to  companies  of  foreign  countries 
entering  New  York  after  May  27th,  1880.  Com- 
panies admitted  to  transact  business  prior  to  that 
date  are  required  to  have  a  capital  of  not  less 
than  $200,000,  such  a  sum  being  the  minimum 
capital  required  of  fire  insurance  companies  of 
that  State.  Should  the  surplus,  therefore,  of  the 
foreign  company  entering  New  York  prior  to  May 
27th,  1880,  appear  to  be  less  than  $200,000,  the 
capital  becomes  under  the  law  impaired,  and  this 
impairment  must  be  made  good,  the  law  so  plac- 
ing the  foreign  company  in  precisely  the  same 
position   as   a   company   of  the   State. 


78  LIVERPOOL  and  LONDON  and  GLOBE 

The  capital  as  so  ascertained  is  subject  to 
taxation  exactly  as  is  tlie  capital  of  the  native 
institution,  and  the  foreign  company  may  write, 
just  as  may  the  domestic  company,  ten  per  cent. 
of   the   amount   on   any   one   risk. 

The  capital  of  The  Liverpool  and  London  and 
Globe  Insurance  Company  in  the  United  States  as 
ascertained  in  the  prescribed  manner  was  on 
December   31st,    1897,    $2,895,757.80. 

It  would  not  have  been  strange  if,  in  all  these 
years — and  during  many  of  which  the  Company 
had  been  the  subject  of  attack  and  criticism — a 
disposition  on  the  part  of  State  officials  had  been 
manifested  to  examine  into  its  affairs,  and  yet 
with  the  exception  of  an  inquiry  of  a  cursory 
nature  by  the  representative  of  a  western  State 
made  at  a  time  (1897)  when  no  reasonable  excuse 
existed  for  it,  but  one  requisition  was  made  on 
The  Liverpool  and  London  and  Globe.  In  1881 
Superintendent  Fairman  of  the  Insurance  Depart- 
ment of  the  State  of  New  York,  without  questioning 
the   correctness   of    the  Company's    sworn    statement 


San    Francisco  Directors. 


William     Alvord. 


Levi     Strauss. 


William    Babcock. 


LO  V  ELL     Wh  ite. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.         79 

of  assets  and  liabilities,  yet  desired  to  know  the 
character  of  loans  on  bond  and  mortgage,  then 
amounting  to  $1,288,586.  It  was  a  reasonable  inquiry, 
and  was  a  welcome  one  to  the  Company.  The 
appraisers  selected  by  the  Department  to  make  the 
investigation  concluded  their  report  in  the  follow- 
ing words :  "  Finally  in  justice  to  the  Company 
would  like  to  say  that  with  one  or  two  exceptions 
we  find  their  loans  an  extraordinaril}'^  good  lot  and 
excellently  well   secured." 

Reference  has  been  made  in  previous  pages  to 
the  real  estate  of  the  Company  in  the  United 
States.  In  New  York  City  the  site  acquired  is 
quite  large,  the  frontage  on  William  and  Pine 
Streets  being  respectively  sixty-eight  and  thirty  feet. 
Evidences  of  a  disposition  on  the  part  of  the  Com- 
pany to  make  in  other  suitable  places,  as  occasion 
offered,  investments  of  like  character  were  not 
wanting,  and  accordingly  in  1883  a  purchase  was 
made  in  Philadelphia  of  the  propert}^  at  No.  331 
to  337  Walnut  Street.  The  old  buildings  standing 
on  this   site  were   torn   down,  and   an   attractive   six- 


8o  UVERPOOI.  AND   LONDON  and   GLOBE 

Story  building  was  erected  to  supply  the  needs  of 
the  Company  at  that  point.  Again  in  1884,  the 
office  building  owned  by  the  Newark  Savings  Insti- 
tution, at  the  comer  of  Broad  and  Mechanic  Streets, 
Newark,  N.  J.,  was  purchased.  This  subsequently 
was  considerably  enlarged  by  the  acquisition  of 
adjoining  property,  and  the  erection  of  a  modem 
office  building  on  the  site.  These,  combined,  furnish 
a  structure  of  considerable  extent,  the  ground  area 
being   no   less   than    11,000   square   feet. 

As  to  the  purchase  by  the  Company  at  New 
Orleans,  La.,  in  1894,  it  may  be  said  that  whether 
in  regard  to  desirability  of  location,  durability  of 
structure,  convenience  in  design,  or  attractiveness  in 
elevation,  it  has  received  wide  commendation.  The 
building  embodies  the  ideas  of  the  best  minds 
of  the  country  in  regard  to  fireproof  construction 
and  electrical  engineering,  and  is  the  latest,  as  it 
is  probably  the  finest,  addition  to  the  Company's 
real   estate   investments   in  this   country. 

A  complete  list  of  the  real  estate  assets  as 
reported   at   December  31st,  1897,  is   as   follows:   the 


New  Orleans    Directors. 


GuSTAF  R.Westfeldt. 


CM.  So  R  I  A 


L.  E.  Moore. 


L.  C  .    Fa  llon 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.         8i 

aggregate    value    on     conservative     estimates     being 
$1,745,000.* 

New  York,   45,   47,   49  William  Street;   41,  43 

Pine  Street, 
San  Francisco,  Cal.,  422  California  Street, 
Cincinnati,  Ohio,  comer  Main  and  Third  Streets, 
Charleston,  S.  C,  14  Broad  Street, 
Richmond,  Va.,  11 13  Main  Street, 
Philadelphia,  Pa.,  331  to  337  Walnut  Street, 
Newark,    N.    J.,    comer    Broad     and     Mechanic 

Streets, 
New   Orleans,  La.,  comer   Carondelet  and   Com- 
mon Streets. 

Whilst  in  the  aggregate  this  is  not  quite  the 
largest  investment  in  real  estate  in  the  United 
States  by  a  fire  insurance  company,  (it  is  second  in 
order)  it  is  yet  believed  that,  by  its  much  wider  distri- 
bution, it  better  accomplishes  the  purpose  of  the  Com- 
pany to  place  before  the  eyes  of  property  owners  (and 
in  the  names  of  American  citizens  pledged  to  protect 

I  The  Montgomery,  Ala.,  building  was  The  Richmond,   Va.,  building  was 

sold  in  1894.  bought  in  1S78. 

II 


82  LIVERPOOL  AND  LONDON  and   GLOBE 

their  interests)  these  practical  hostages  for  the 
faithful   performance   of   its   contracts. 

At  the  annual  meeting  of  the  stockholders  of 
the  Company,  held  in  Liverpool  in  May,  1895,  a 
well  deserved  compliment  was  paid  by  the  General 
Manager,  Mr.  Dove,  to  the  agents  in  the  United 
States.     Mr.  Dove   spoke   as   follows : 

"  The  excellent  returns  received  from  every  part 
of  the  world  showed  in  what  manner  their  (the 
agents')  duties  were  carried  out  in  the  careful  con- 
duct of  the  Company's  interests.  He  would  like, 
on  this,  the  first  occasion  that  they  had  ever  had 
one  of  their  representative  agents  from  America 
present,  to  say  how  much  they  were  indebted  to 
that  large  body  of  men,  their  agents,  throughout 
the  world.  In  America  they  made  a  profession  of 
the  insurance  business,  devoting  their  time  and 
energy  to  it.  He  wished  to  say  that  the  work  of 
the  Company's  officers  would  all  be  thrown  away 
if  it  were  not  for  the  steady  and  careful  work  of  that 
large  body  of  men,  the  agents,  who  used  their 
influence    in     getting    business     for    The     Liverpool 


J.  M.  De  Camp. 


James  Hendrick. 


Atwood    Smith. 


Chas.  E.  Gu  I  i_D. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.  83 

and  London  and  Globe  and  the  other  companies 
they  represented,  and  who  knew  how  to  safeguard 
the  Company's  interests  by  taking  account  of  the 
moral   hazards   all   were   tr3dng  to   escape." 

Mr.  John  Bibby,  Chairman  of  the  Home  Board, 
speaking  at  the  same  meeting  with  reference  to  the 
presence  on  that  occasion  of  Mr.  John  Crosby  Brown, 
a  Director  on  the  New  York  Board,  Mr.  Lucas  B. 
Moore,  a  member  of  the  New  Orleans  Board,  Mr. 
George  L.  Shepley,  the  Companj'-'s  agent  at  Provi- 
dence, R.  I.,  and  Mr.  Henry  W.  Eaton,  of  New 
York,  said: 

"  I  feel  that  I  may  assure  these  gentlemen  that 
they  carry  to  their  colleagues  in  America  your  most 
grateful  thanks  as  shareholders  in  this  Company  for 
the  untiring  energy  with  which  they  have  used 
their  great  influence  in  their  respective  centres  in 
promoting  your  interests,  both  by  the  acquisition  of 
good  business  and  the  successful  investment  of  your 
funds." 

Jk     ji     ^     jfi 


84  LIVERPOOL  and  LONDON  and   GLOBE 

The  period  covered  by  tlie  operations  of  the 
Company  in  the  United  States  is  particularly  inter- 
esting  to   the   student   of   fire   insurance   history. 

It  begins  with  the  advent  of  the  foreign  com- 
pany, and  by  the  gradual  growth  of  feeling  on  the 
part  of  a  large  section  of  the  insuring  public  in 
favor  of  the  patronage  of  companies  transacting  a 
widely  scattered  business.  Bxperience  had  already 
failed  to  justify  the  expectation  that  at  a  time  of 
disaster,  coming  as  the  result  of  conflagration,  the 
extraordinary  claims  naturally  ensuing  could  be 
drawn   from   purely   local   sources. 

President  Charles  J.  Martin,  of  the  Home  Insur- 
ance Company,  during  an  address  made  as  early 
as    1863  '   says  : 

"  The  New  York  fire  insurance  companies  were 
twenty-five  in  number  at  the  occurrence  of  the  great 
(New  York)  fire  in  1835,  with  stock  capitals  amount- 

/  Fowler's  History  of  Insurance. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.  85 

ing  to  little  less  than  $8,000,000.  This  fire  caused 
the  insolvency  of  all  but  seven  of  such  companies, 
and  the  capitals  of  these  seven  were  impaired. 
Only  about  $1,000,000  of  actual  fire  insurance  cap- 
ital was  left.  Insolvent  companies  paid  from  forty 
to  ninet}^  per  cent,  of  the  claims  under  their  poli- 
cies. To  meet  the  deficiency  in  fire  insurance  capital, 
several  mutuals  were  started.  A  part  of  these  passed 
out  of  existence  as  old  stock  companies  were  revived, 
and  the  (New  York)  fire  of  1845,  swept  away  most 
of  the  remaining  mutuals  and  caused  the  insolvency 
of  several  of  the  stock  companies,  and  none  of  the 
latter  were    ever  resuscitated." 

An  excuse  for  this  reference  is  found  in  the 
assertion  sometimes  made,  and  most  unjustly,  that 
the  foreign  company  is  responsible  for  the  decline 
of  the  small  native  institution.  That  the  influence 
of  competition  is  felt  less  in  fire  insurance  than  in 
other  branches  of  business,  cannot,  it  is  true,  be 
urged,  but,  as  a  distinct  and  satisfying  cause,  it  can 
be  said  that  the  history  of  conflagrations  furnishes 
all    that    is    needful    to   explain   the   decline   of    the 


86  LIVERPOOL  AND  LONDON  and  GLOBE 

smaller    institutions    confining,   or  mainly   confining, 
their  operations   to   one  locality. 

From  an  examination  of  the  Spectator  Chart 
issued  in  1898  it  is  seen  that  of  the  American 
stock  companies  established  prior  to  1848,  thirty-six 
are  in  existence.  So  far  as  the  disasters  of  187 1 
and  1872  are  concerned — and  we  may  regard  these 
as  furnishing  the  most  serious  tests  that  could  be 
applied  of  the  resources  of  the  companies — we  can- 
not find  that  the  survivors  amongst  the  American 
companies  doing  a  general  business  have  suffered 
from  a  lack  of  patronage.  On  the  contrary,  after 
the  Chicago  conflagration  to  some  extent,  and  in 
a  much  greater  degree  after  the  Boston  conflagra- 
tion, we  see  evidences  of  a  marked  growth  of 
popularity  in  the  great  agency  companies  of  the 
land.  ^  And,  apart  from  this,  we  find  that,  as  a 
result  of  the  experiences  then  gained,  abundant 
proof  of  a  disposition  on  the  part  of  the  stock- 
holders   of    these    institutions   to   practice    self-denial 


I  There  was,  however,  a  rapid  premium       of  such  conflajTrations  as  those  of  Chicago 
jrain  In  companies  which  were  showing       and  Boston.— Fowler. 
ability  to  witnstand  the  severest  pressure 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        87 

in  the  payment  of  dividends,  to  the  end  that  reserves 
to  meet  serious  emergencies  could  be  accumulated. 
The  most  conservatively  managed  companies  in  the 
country  operated  in  i860  (the  earliest  year  furnishing 
available  departmental  returns)  on  very  small  net 
surpluses,  evidently  relying  upon  cash  capital  to  meet 
extraordinary  claims.' 

If  the  aggregate  sum  of  risks  in  force  of  such 
of  the  thirty-six  companies  as  reported  in  i860  to 
the  State  of  New  York  (thirteen  companies)  be  com- 
pared with  the  aggregate  sum  reported  at  December 
31st,  1897,  it  can  be  seen  that  it  has  increased 
eightfold.  In  the  interval  the  aggregate  net  surplus 
has  been  increased  over  twelve  million  dollars. 

If  we  turn  to  the  records  of  the  American 
companies  established  subsequent  to  1848,  and  organ- 
ized and  maintained  under  principles,  the  adoption 
of  which  experience  of  the  effect  of  conflagrations 
had  shown  to  be  a  necessity,  we  can  nowhere  find 
that   the   advent   of   the  foreign   company  has    served 

I   Extract   from    New  York    Insurance  powerful  iustrument  toward  inducing  the 

Superintendent's  report,  1873.  managers  of  companies  to  provide  for  the 

"  This  sweeping  conflagration  (Chicago)  accumulation  of  large  surplus  of  available 

should,  and    it    is    hoped  will,  act   as   a  assets  beyond  capital." 


88  I^IVERPOOL  AND   I^ONDON   and   GLOBE 

to  operate  to  the  disadvantage  of  the  native  insti- 
tution. Of  these  companies  established  since  1848, 
we  have  numerous  examples  of  the  acquirement  of 
a  large  business,  accompanied  by  a  success  equal 
to  or  greater  than  that  which  has  attended  the 
operations  in  the  United  States  of  any  foreign 
company  distinguished  by  good  management,  and 
possessed  of  resources  of  a  character  to  inspire  the 
confidence  of  the  insuring  public. 

If,  then,  The  Liverpool  and  London  and  Globe 
and  other  companies  of  foreign  countries  have  been 
welcomed  and  honored  here,  so  also,  during  the 
same  period  of  time,  the  Home,  Continental,  German- 
American,  Phenix,  Glens  Falls,  Germania,  Hanover, 
and  Niagara  of  New  York,  the  Firemen's  Fund  of 
California,  the  New  Hampshire,  the  Springfield,  and 
the  Phoenix,  and  National  of  Hartford,  besides  a 
number  of  others,  have  been  organized,  and  have 
been  operated  on  such  lines  that  they  have  worked 
side  by  side  with  the  foreign  companies  under 
conditions  of  competition  admitting  of  material 
progress,   and,   in    many    instances,    of    heavy    gain. 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.  89 

The  tendency  of  business,  then,  has  been 
unquestionably  towards  the  larger  institutions.  That 
any  of  the  purely  local  companies  should,  in  view 
of  this  tendency,  survive  and  flourish  at  this  date, 
would  appear  to  be  due  to  the  exercise  of  remarkable 
ability  and  care  on  the  part  of  those  responsible 
for   the   conduct   of    their   affairs. 


During  the  period  under  review,  the  fire  under- 
writer has  been  called  upon  to  deal  wdth  new 
features  or  problems  in  the  business  such  as  never 
before,  in  any  like  period  of  time,  have  been 
presented  to  the  profession  for  study  and  appro- 
priate action. 

Old  methods  of  lighting  by  candle  and  vege- 
table or  fish  oil  were  to  be  largely  eliminated  on 
the  discovery  of  mineral  oil  in  considerable  quantities 
in  1859,  and  suitable  regulations  for  storage  and  use 
devised.  The  dangers  of  this  product  had  to  be 
carefully  examined,  and  a  concensus  of  opinion 
secured   as   to   adequate   charges   for   its   use.      At   a 

12 


90  LIVERPOOL  and  LONDON  and   GLOBE 

later  period  regulations  became  necessary  wlien 
machines  were  invented  for  the  manufacture  of 
illuminating   gas   from   naphtha. 

The  underw'riter  was  invited  to  review  his 
methods  of  rating,  when,  on  the  other  hand, 
improved  fire  alarm  and  automatic  sprinkler  systems 
were  forced  upon  his  attention.  It  can  be  safely 
said  that  the  stock  company  was  unwilling  in  the 
early  years  of  their  introduction  to  offer  practical 
encouragement  to  devices  of  an  automatic  character 
designed  to  extinguish  fires,  or  to  give  prompt 
notice   of   their   commencement. 

The  underwriter  urged  that,  as  an  adjuster  of 
rates,  he  was  the  creature  of  experience ;  that  he 
had  no  material  at  hand  to  warrant  him  in  mak- 
ing a  discount  to  meet  a  problematical  advantage, 
and  he  invited  those  who  were  concerned  to  reap 
the  fruits  of  these  inventions  to  give  him  the  time 
needful  to  a  proper  observation  of  the  effects  so 
confidently  claimed  by  the  advocates  of  the  apparatus.  ^ 

1  The  National  Board,  it  is  true,  was  Parmelee — with    the    result    that    it   was 

induced   in    1875   to   devote,    through    its  cordially  commended   to   the   "  favorable 

appropriate  committee,  some  time  to  an  consideration  "  of  underwriters, 
inquiiy  into  the  first  of  these  devices— the 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        91 

The  attitude  assumed  by  this  interest  drove 
the  patentees  into  the  arms  of  the  "  Mutuals,"  and 
then,  and  for  many  years  afterwards,  a  large  num- 
ber of  highly  desirable  risks  equipped  by  the 
Parmelee  Company  passed  from  the  books  of  the 
stock  companies. 

The  "  Mutuals,"  indeed,  were  in  a  proper  position 
to  test  the  merits  of  the  invention,  for,  allowing 
nothing  in  advance  for  its  introduction,  the  advan- 
tage, if  any,  to  the  policyholders  could  be  reaped 
when  at  a  later  period  dividends  came  to  be 
distributed.  ^ 

The  "  Parmelee "  gave  way  in  1882  to  the 
"  Grinnell,"  but  not  until  1886  did  underwriters 
complete     any     organization     for     the     purpose     of 


I  That  the  Muttials  themselves  were 
somewhat  exercised  when  called  upon  at 
this  time  to  deal  with  the  subject  is  appar- 
ent from  a  most  interesting  paper  recently 
published  by  Mr.  Edward  Atkinson,  of  Bos- 
ton, and  from  which  the  following  extracts 
are  given. 

"Having  satisfied  myself  that  the  Parme- 
lee automatic  sprinkler  was  an  effective 
safeguard,  I  secured  the  approval  of  the 
directors,  and  in  iS8o  undertook  to  bring  it 
into  general  use.  My  coadjutors  in  other 
factory  mutual  companies,  almost  without 
exception,  thought  the  effort  would  fail, 
while  some  of  them  were  opposed  to  the 
undertaking.  The  first  effort  was  to  secure 
the  introduction  of  the  automatic  system 
in  all  departments  of  textile  mills  in  which 


the  stock  is  worked  in  a  loose  condition, 
in  opening,  picking  and  spinning,  and  in 
other  analogous  departments  in  work- 
shops and  paper  mills.  We  had  not  yet 
that  feeling  oi  positive  assurance  in  put- 
ting sprinklers  everywhere  that  would 
have  warranted  us  in  asking  the  very  large 
expenditure  since  made  in  extending  the 
service  over  weaving  rooms  and  other  de- 
partments.   ♦    »    «    *    * 

In  the  early  history  of  this  undertaking 
there  was  a  grave  doubt  in  my  own  mind^ 
and  in  that  of  manufacturers  themselves, 
as  to  the  effectiveness  of  the  service  at 
certain  points  and  in  certain  places,  nota- 
bly in  the  mule  spinning  room  of  a  cotton 
factory. 


92  LIVERPOOL  AND  LONDON  and   GLOBE 

regulating  classes  of  business  equipped  with  this 
or   other  approved   device. 

The  credit  for  such  action  rests  with  the  New 
England  Exchange,  an  association  of  Special  Agents, 
which  after  patient  inquiry  then,  and  since,  arranged 
and  perfected  machinery  for  dealing  with  this 
important   class. 

The  Phenix  of  Brooklyn  first,  with  the  Queen 
of  England  and  National  of  Hartford,  and  followed 
somewhat  later  by  The  Liverpool  and  London  and 
Globe,  began  to  write  largely  increased  lines  on 
approved  risks  of  this  character,  so  laying  the 
foundation  for  the  establishment  in  1890  of  the 
Factory   Insurance   Association. 

In  the  early  eighties,  underwriters  were  called 
upon  to  regulate  the  use  of  electricity  utilized  for 
heat,  light  and  power;  then  the  newly  invented 
celluloid  had  to  be  studied  and  its  risks  estimated, 
and,  in  the  recent  past,  acetylene  has  called  for 
more  than  usual  attention  from  underwriters,  owing 
to  the  belief  that,  if  storage  and  use  be  unguarded 
by  stringent   regulations,  that  product  will  furnish  a 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        93 

loss  experience  whicli  has  been  unprovided  for  in 
our  existing   systems   of  rating. 

To  secure  co-operation  on  a  compreliensive  scale, 
the  lack  of  which  had  been  so  often  lamented,  the 
National  Board  of  Fire  Underwriters  was  organized 
in  July,  1866,  and  met  with  complete  success.  It 
was  the  first  association  of  the  kind  in  the  his- 
tory of  fire  insurance  in  the  United  States.  It 
deserved  and  secured  ample  support;  it  formed  a 
rallying  ground  for  the  companies  after  the  disasters 
of  1871  and  1872,  and  remains  to-day,  after  many 
trials,  during  which  vexed  subjects  of  discussion 
were  eliminated,  a  strong  and  useful  institution. 
Not  the  least  of  the  results  it  attained  was  the 
adoption  of  uniform  policy  conditions,  in  which, 
amongst  other  features,  the  use  and  storage  of 
mineral  oils,  gunpowder,  etc.,  was  suitably  dealt  with. 

In  changes  in  the  organization  and  equipments 
of  Fire  Departments,  by  which  in  nearly  all  cities 
of  any  importance  the  volunteer  system  was  elimi- 
nated, and  manual  engines  superseded ;  in  the  gradual 
extension   of   approved   methods   of  water  supply  and 


94  LIVERPOOL  AND  LONDON  and   GLOBE 

distribution ;  in  the  introduction  in  very  many  of 
tlie  large  cities  of  fire  patrol  organizations  under 
the  control  of  the  local  underwriters ;  in  the  large 
increase  and  great  improvement  in  systems  of 
automatic  sprinklers  and  fire  alarms ;  in  the  inven- 
tion and  practical  adoption  of  extinguishers  for 
ready  use  at  incipient  fires ;  in  the  large  advance 
in  the  methods  of  construction  of  fire-doors  and 
shutters ;  in  the  extended  use  of  fire-proof  material 
in  the  erection  of  buildings ;  in  the  awakening  of 
governing  powers  to  the  need  of  more  stringent  laws 
regulating  the  construction  of  buildings  in  cities,  and 
the  proper  storage  of  combustibles  within  their  bor- 
ders ;  in  improved  processes  of  manufacture  by  which 
dangerous  elements  have  been  eliminated ;  in  the 
adoption  of  reasonable  systems  of  rating  (involving 
the  use  of  a  co-insurance  clause)  by  which  one  risk 
can  be  measured  with  another  and  their  relative 
charges  justified ;  in  the  organized  examination  of 
risks  by  competent  men,  by  which  undesirable  features 
are  removed  and  their  fire  equipment  maintained  in 
a   state    of   efficiency;   in   the   co-operation   by    which 


FIFTY  YEARS  OF  WORK  IN  THE  U.  S.  A.        95 

separation  of  merchandise  in  storage  stores  in  large 
cities — the  fibre  from  the  non-fibre — has  been  accom- 
plished; in  union  for  the  purpose  of  securing  and 
maintaining  rates  of  commission  and  brokerage  at  a 
level  deemed  equitable  as  between  the  companies  and 
their  agents ;  in  the  selection  of  men  foremost  in 
the  ranks  of  underwriters  to  form  a  tribunal  for  the 
settlement  of  points  in  dispute  between  companies; 
.in  the  resistance  organized  to  hostile  and  burden- 
some laws  of  the  State  Legislatures ;  in  the 
establishment  of  a  fund  for  the  prosecution  of 
incendiaries;  in  the  cultivation  and  undoubted  growth 
of  a  kindlier  feeling  between  the  companies ;  all  these 
and  many  more  changes  have  been  initiated  during 
the  last  fifty  years,  and  have,  each  in  its  own  appro- 
priate way,  been  dealt  with,  and  in  them,  and  in 
the  councils  of  the  companies  w^herein  they  were 
entertained.  The  Liverpool  and  London  and  Globe 
has   borne   its    part. 

And  now  we  are  about  to  take  leave  of  the 
story  of  the  Company  which,  successively  as  the 
Liverpool    and    London,    and     The     Liverpool      and 


96  LIVERPOOL  AND  LONDON  and   GLOBE 

London  and  Globe,  lias  been  continuously  before  tbe 
American   public   for  half   a  century. 

Remembering  that  by  tbe  vocabularies  "  to 
insure "  is  "  to  make  certain  or  sure ;  to  make  safe," 
effort  bas  been  made  to  give  to  tbis  a  liberal  as  well 
as  a  literal  interpretation,  to  the  end  that  tbe  assured 
may  "  make  certain  "  tbat  in  tbe  hour  of  his  trial  he 
will  receive  the  fullest  measure  of  his  loss  within  the 
bounds  of  his  contract.  Remembering,  too,  the  old 
saying  that  "  he  gives  twice  who  gives  quickly," 
effort  has  been  made  to  meet  claims  with  promptitude, 
and  with  a  generous  recognition  of  the  circumstances 
of  difficulty  and  anxiety  which  misfortune  has  imposed 
on  the  assured.  In  respect  to  these  endeavors,  the 
Company  may  well  entertain  the  hope  that  it  has 
earned  a  place  in  the  regard  of  the  American 
people,  and  that,  in  the  years  to  come,  it  may 
enjoy   their  respect   and   confidence. 

That  the  Company  will  endure,  none  who  have 
learnt  its  history,  and  are  familiar  with  the  spirit  of 
its  enterprise,  can  doubt.  That  it  will  continue  to 
attract   to   itself   that    devotion    from    its    representa- 


A./f 
HE 

FIFTY  YEARS  OF  WORK  IN  THE  U.^  ^^M^^^^W^ 

'.,      ^        or    ^' 

tives  wliicli  lias  been  so  conspicuously  exl 
during  its  entire  career,  can  readily  be  believed. 
And  if  we  pause  to  inquire  in  what  manner  the 
subject  of  this  regard  has  assisted  in  influencing 
the  success  of  which  all  connected  with  the  Com- 
pany may  well  be  so  proud,  the  answer  is  at  hand. 
It  has  given  to  its  representatives  an  unstinted 
confidence :  it  has  fortified  its  promise  of  safety  to 
the   public   by   a   security   which   has   never   failed. 


13 


Appendix 


SPECIAL   AGENTS. 


To  the  special  agents  of  all  companies  doing 
a  large  agency  business  much  responsibility  attaches. 
In  the  careful  selection  of  men  of  standing  in  their 
several  communities  to  represent  the  companies  as 
local  agents ;  in  the  constant  watchfulness  of  the 
character  of  business  being  written  for  the  company; 
in  the  personal  surveys  of  remote  and  important 
risks ;  in  the  prompt  and  liberal  adjustment  of  all 
honest  losses;  in  their  duties  to  local  Boards  and 
State  associations,  and  in  the  care  at  all  times  to 
conserve  and  promote  the  mutual  interests  of  the 
company  and  its  agents,  the  special  agent  is  the 
personal  representative  of  the  ojEcers,  and  on  his 
success   or  failure   depends   in   a   great   measure   the 


I02  LIVERPOOL  AND  LONDON  and   GLOBE 

increase  or  decline  of  the  Company's  business  in 
his  field.  He  must  continually  be  impressed  with 
the  importance  of  carrying  out  to  its  fullest  extent 
the  broad  policy  of  the  company  to  treat  not  only 
justly,  but  liberally,  all  who  do  business  with  it. 
We  recognize  the  fidelity  with  which  our 
Special  Agents  serve  the  Company,  and  are  sensible 
of  the  fact  that  their  efforts  contribute  in  no  small 
degree   to   its   prosperity   in   the   field. 


SPECIAL   AGENTS. 

G.  A.  FuRNKSS.  Field,  New  England.  Commenced  duties  as 
Special  Agent  in  1877,  previous  to  which  time  he  had  been 
since  1873  ^^  the  New  York  ofiSce  of  the  Company. 

J.  De  W.  Churchill.  Field,  the  Virginias  and  Carolinas;  has 
acted  as  Special  Agent  of  the  above  territory  since  1877. 
His  insurance  work  commenced  in  1853  as  local  agent  at 
Toronto,  Canada,  for  the  Aetna  of  Hartford,  Home  of 
New  York,  and  other  companies.  For  some  years  subse- 
quently was  in  the  employ  of  the  Aetna  under  J.  B. 
Bennett,  at  Cincinnati,  Ohio;  later  was  with  the  National 
Board,  and  Secretary  of  the  local  Board  at  Buffalo,  N.  Y. 


B.  Kremer.  Field,  Pennsylvania,  Maryland  and  Delaware; 
has  supervised  the  above  field  as  Special  Agent  of  this 
Company  since  1883.  Entered  the  insurance  business  in 
1872  as  local  agent  at  Philadelphia,  subsequently  did  special 
work  for  the  Scottish  Commercial  and  the  Lancashire. 

103 


I04  LIVERPOOL  and   LONDON  and   GLOBE 

C.  F.  Hawes.  Field,  New  Jersey,  southern  New  York  and 
western  Connecticut.  Appointed  Special  Agent  in  1891, 
previous  to  which  time  had  been  in  the  New  York  oflfice 
since  1877. 

C.  E.  WoRTHAM,  Jr.  Field,  central  and  western  New  York. 
Appointed  Special  Agent  in  1893.  Prior  to  that  year  and 
with  a  brief  intermission  was  indirectly  in  the  service  of 
the  Company  since  1878. 

R.  E.  GoocH.  Field,  Ohio.  Entered  the  service  of  the  Com- 
pany in  1895,  prior  to  which  time  he  was  in  the  employ  of 
the  Phoenix  Insurance  Company  of  England  since  1886. 

F.  W.  Bauer.  Field,  eastern  New  York,  Vermont  and 
western  Massachusetts.  Appointed  Special  Agent  in  1896; 
previously  in  the  New  York  ofl&ce  of  the  Company  since  1879. 

Wm.  B.  Seaman.  Entered  employ  of  the  Company  in  1876. 
In  1884  was  appointed  Special  Agent  for  western  New  York 
with  headquarters  at  Rochester,  and  ten  years  later  was 
recalled  to  New  York  to  adjust  losses  for  the  Company  in 
that  city. 

Preston  T.  Kei^Ey.  Field,  Indiana.  Entered  service  of  this 
Company  1897,  previous  to  which  he  was  for  some  time 
Special  Agent  of  the  Insurance  Company  of  North  America 
for  Cook  County,  111.,  and  later  for  the  Hanover. 

Frank  G.  Snyder.  Field,  Kentucky,  Tennessee  and  Arkan- 
sas. Entered  the  Company's  service  in  1897,  was  Special 
Agent  in  the  South  in  1888  for  the  State  Investment  Com- 
pany of  California,  and  subsequently  for  the  Orient;  and 
later,  for  the  Mechanics  &  Traders  of  New  Orleans. 


SPECIAL  AGENTS.  105 

J.  B.  Hereford.  Field,  Texas.  Embarked  in  local  agency 
business  at  Dallas,  Texas,  in  the  year  1887,  and  in  1891 
was  appointed  special  agent  of  the  Guardian  Insurance 
Company  of  England,  for  the  State  of  Texas,  resigning  that 
position  in  1894  to  accept  the  Special  Agency  of  The  Liver- 
pool and  London  and  Globe. 

Guy  Carpenter.  Field,  Alabama,  Florida  and  Georgia. 
Entered  the  office  of  the  Sun  Mutual  Insurance  Company 
in  March,  1885,  ^^^  i^  June,  1892  accepted  the  position  of 
fire  clerk  in  the  agency  of  Wm.  M.  Railey,  where  he 
remained  until  March,  1893,  resigning  to  accept  the  position 
of  Special  Agent  of  The  Liverpool  and  London  and  Globe 
Insurance  Company. 

E.  H.  Addington.  Field,  Louisiana  and  Mississippi.  Entered 
a  local  agency  in  Portland,  Ind.,  in  the  spring  of  1882.  In 
December,  1886  came  to  New  Orleans  to  serve  as  inspector 
of  the  compact  under  the  management  of  the  late  J.  B. 
Bennett,  resigning  after  three  years  of  service  to  accept  the 
position  of  fire  clerk  with  the  Mechanics  and  Traders 
Insurance  Company  of  New  Orleans,  La.  On  January  ist, 
1893,  was  appointed  Special  Agent  of  The  Liverpool  and 
London  and  Globe  Insurance  Company. 

B,  H.  Abrams.  Field,  Georgia,  Florida  and  Alabama.  Has 
been  Special  Agent  for  these  States  since  1887,  having 
resigned  a  similar  position  with  the  Capital  City  Insurance 
Company  of  Montgomery,  Ala.  Was  for  several  years 
previously  a  prominent  local  agent  in  Mobile,  Ala. 

14 


io6  LIVERPOOL  and   LONDON  and   GLOBE 

Chas.  H.  Pescay.  Field,  Texas.  Entered  the  office  of  S.  O. 
Cotton  &  Bro. ,  General  Agents  at  Houston,  Tex. ,  in  March, 
1886,  where  he  remained  until  March,  1892,  resigning  to 
accept  the  position  of  Special  Agent  of  The  Liverpool  and 
London  and  Globe  Insurance  Company. 

Edward  G.  Sprowi,.  Field,  Oregon,  Washington  and  Idaho. 
Has  been  in  the  employ  of  the  Company  in  various  capacities 
since  187 1.     Was  appointed  Special  Agent  in  1879. 

R.  G.  Brush.  Field,  California,  Nevada  and  Arizona.  His 
insurance  experience  commenced  in  San  Francisco  in  the 
early  sixties,  since  which  time  he  has  been  continuously  in 
the  fire  insurance  business  in  various  positions.  Was 
appointed  Special  Agent  of  this  Company  November  ist, 
1891. 

John  W.  Gunn.  Field,  Oregon  and  Washington.  Was 
appointed  Local  Agent  in  April,  1891  at  Snohomish,  Wash- 
ington, and  has  been  employed  as  Special  Agent  of  this 
Company  since  October,  1897. 

E.  H.  Berry.  State  Agent  for  Wisconsin.  Is  now  in  his 
nineteenth  year  as  field  man  for  this  Company,  having  com- 
menced as  Special  Agent  January  ist,  1880.  In  1893  he  was 
appointed  State  Agent  for  Wisconsin  and  upper  Michigan, 
and  since  January,  1898,  has  been  State  Agent  for  Wiscon- 
sin alone,  with  headquarters  at  Milwaukee. 


SPECIAL  AGENTS.  107 

Frederick  O'l  Buck.  State  Agent  for  Colorado,  Montana, 
and  Utah.  Entered  the  insurance  business  in  1874  in  Clear- 
field, Pa.,  and  continued  therein  until  1877.  In  1878  he 
went  to  Colorado  and  re-entered  the  insurance  business  at 
Georgetown,  In  1887  he  was  appointed  State  Agent  for 
this  Company  with  headquarters  at  Denver,  Colorado. 

J.  G.  Carver.  State  Agent  for  Michigan.  Entered  the  insur- 
ance business  in  early  life  in  connection  with  real  estate  and 
loaning.  January',  1889,  accepted  a  position  with  the  First 
National  Bank  at  Iron  Mountain,  Michigan,  having  charge 
of  the  insurance  department  until  Jime,  1891,  when  he 
accepted  the  position  of  assistant  to  George  H.  Moore,  State 
Agent  of  The  Liverpool  and  London  and  Globe  Insurance 
Company  for  Michigan,  and  succeeded  him  in  this  position 
January  ist,  1893. 

William  E.  Hitchcock.  State  Agent  for  Nebraska  and  South 
Dakota.  Was  a  member  of  the  firm  of  Webster,  Howard  & 
Company,  one  of  the  largest  insurance  and  loan  brokerage 
firms  in  the  City  of  Omaha  for  many  years.  He  entered 
this  business  some  five  years  ago;  became  connected  with 
this  Company  in  1897  as  State  Agent  for  Nebraska  and 
South  Dakota. 

Hugh  R.  Loudon.  State  Agent  for  Missouri.  Entered  the 
insurance  business  at  an  early  age  in  the  office  of  the  Min- 
neapoHs  Mutual  Insurance  Company  of  Minneapolis,  and  at 
seventeen  entered  the  field  for  that  Company.     In  1891  was 


io8  LIVERPOOL  AND   LONDON  and   GLOBE 

appointed  local  manager  in  Minneapolis  and  St.  Paul  for  the 
Armstrong  Mutuals  of  New  York.  Later  was  in  the  employ 
of  the  Lancashire  until  January  ist,  1894,  when  he  became 
associated  with  this  Company. 

Will  S.  Loudon.  State  Agent  for  Iowa.  Entered  the  insur- 
ance business  at  an  early  age  with  the  Syndicate  Insurance 
Company  of  Minneapolis  in  1886,  with  which  he  remained 
for  six  years,  j&lling  during  that  time  every  office  position. 
Later  was  connected  with  the  Phenix  of  Brooklyn,  and 
inspector  for  the  Western  Miller's  Mutual  in  Wisconsin, 
Michigan,  Indiana  and  Ohio.  Subsequently  he  entered  the 
local  agency  business  in  Minneapolis.  Accepted  his  present 
position  with  The  Liverpool  and  London  and  Globe  Insur- 
ance Company  in  May,  1896. 

John  E.  Thomas.  State  Agent  for  Illinois.  Engaged  in  insur- 
ance business  with  his  father  under  the  firm  name  of  J.  V.  & 
J.  E.  Thomas,  and  gradually  assumed  sole  charge  until  Jan- 
uary ist,  1893,  when  the  firm  was  dissolved.  In  1894,  he 
was  appointed  Special  Agent  of  the  Company  for  Northern 
Illinois,  and  one  year  later  received  his  present  appointment, 

Joseph  J.  Windle.  State  Agent  for  Minnesota  and  North 
Dakota.  Entered  the  insurance  business  at  Madison,  Wis- 
consin, in  1886  as  local  agent,  but  most  of  his  time  was 
devoted  to  adjustment  work  for  different  companies.  He 
entered  the  employ  of  The  Liverpool  and  London  and  Globe 


SPECIAL  AGENTS.  109 

Insurance  Company  in  the  beginning  of  1889  as  State  Agent 
for  Dakota  Territory,  and  a  few  years  later  the  State  of  Min- 
nesota was  added  to  his  field. 

Edward  W.  Wintdle.  Special  Agent,  Minnesota  and  North 
Dakota.  Commenced  his  business  career  in  his  father's 
office  in  England,  where  he  received  his  early  training  in  the 
insurance  business.  I,ater,  he  studied  law  for  some  years. 
He  came  to  the  United  States  in  1894,  assisting  his  brother 
in  the  office  until  May,  1896,  when  he  entered  the  service  of 
The  Liverpool  and  London  and  Globe  Insurance  Company  in 

:-       the  position  he  now  holds. 

John  Hanrahax.  Special  Agent  for  Cook  County,  Illinois. 
Entered  the  insurance  business  in  the  office  of  Moore  & 
Janes,  of  Chicago,  in  April,  1883,  since  which  time  he  has 
followed  his  chosen  calling.  Entered  the  service  of  The 
Liverpool  and  London  and  Globe  Insurance  Company  in 
August,  1887. 

M.  W.  Van  Vaxkenburg.  State  Agent  for  Kansas,  Okla- 
homa and  Indian  Territories.  Purchased  a  local  insurance 
agency  in  Topeka,  Kansas,  in  1887,  in  which  The 
Liverpool  and  London  and  Globe  Insurance  Company 
was  represented.  In  1889  was  appointed  State  Agent 
for  this  Company  for  Kansas  and  Missouri.  His  territory 
was  changed  in  1893  to  Kansas,  Oklahoma  and  Indian 
Territories,  with  headquarters  at  Topeka,  Kansas. 


112  LIVERPOOL  AND  LONDON  and   GLOBE 

It  lias  been  suggested  that  we  recognize  in 
the  illustrations  in  this  review  those  of  our  friends 
who  have  for  a  quarter  of  a  century  or  more  con- 
tinuously represented  the  Company  as  agents,  and 
we  have  pleasure  in  appending  a  list  of  such,  giving 
names,  locations,  and  dates  of  appointment.  This 
list  could  be  greatly  enlarged  did  it  include  a 
record  of  agencies  established  more  than  twenty- 
five  years.  A  careful  inquiry  shows  that  in  very 
many  cases  the  original  firm  name  remains  un- 
changed, although  the  present  members  have  not 
yet  attained  the  period  of  representation  above 
referred   to. 

Appointed 

Robert  C.  Rathbone,  New  York  City.  1856 

Richard  Mather,  Ironton,  Ohio.  1857 

James  Hendrick,  Albany,  N.  Y.  1858 

John  C.  Brockenbrough,  Lafayette,  Ind.  i860 

David  N.  Kennedy,  Clarksville,  Tenn.  i860 

C.  B.  Armstrong,  Buffalo,  N.  Y.  1861 

D.  B.  Stow,  Rondout,  N.  Y.  1861 
Atwood  Smith,  Philadelphia,  Pa.  1865 


;;=,CC/<E\3RC  - 


R.  C.  Rathbone- 


Richard  Mather. 


C.  B.  Armstrong. 


Dav  .  ~   .  ^ .  .•*■.  E  :,  N  EDV. 


D.  B.  Stow. 


0.  M.  Edwards. 


Wm.  G.  Cove. 


M.J.  Francisco. 


W.Stewart  Poi_K.  W.H.Hardin. 


W.  L.HOSKINS- 


A.J.  Kauffman. 


GeO-W.  Dev. 


P.  J.  Otey. 


J.  M.Johnson. 


Fredk.Nash. 


V.    SCHAEFFER. 


LOCAL  AGENTS.  113 

Appointed 

O.  M.  Edwards,  Pittsburgli,  Pa.  1866 

William  G.  Coye,  Homellsville,  N.  Y.                   1866 

A.  H.  Crew,  Chico,  Cal.  1866 

J.  C.  Ducliow,  Columbia,  Cal.  1866 

J.  H.  Pope,  Colusa,  Cal.  1866 

Colton  Greene,  Memphis,  Tenn.  1867 

M.  J.  Francisco,  Rutland,  Vt.  1868 

W.  L.  Hoskins,  Owego,  N.  Y.  1868 

.W.  Stewart  Polk,  Baltimore,  Md.  1868 

W.  H.  Hardin,  Chester,  S.  C.  1868 

Andrew  J.  Kauffman,  Columbia,  Pa.  1868 

Da\4d  A.  Baum,  San  Francisco,  Cal,  1868 

George  W.  Dey,  Norfolk,  Va.  1869 

W.  R.  liigby,  Bridgeport,  Conn.  1869 

C.  A.  Hogan,  Starkesville,  Miss.  1869 

A.  T.  Graves,  Hazelhurst,  Miss.  1869 
J.  C.  Turner,  Camilla,  Ga.  1869 

B.  S.  Drake,  Port  Gibson,  Miss.  1869 
P.  J.  Otey,  Lynchburg,  Va.  1870 
J.  M.  Johnson,  Marion,  S.  C.  1870 
Valentine  Schaeffer,  Dayton,  Ohio.  1870 
Frederick  Nash,  Charlotte,  N.  C.  1870 

15 


114  LIVERPOOL  AND   LONDON  and   GLOBE 

Appointed 

W.  N.  Coleman,  Reading,  Pa.  1870 

S.  C.  Lumbard,  Ft.  Wayne,  Ind.  1870 

B.  R.  Prince,  Altaville,  CaL  1870 

W.  B.  Davidson,  Montgomery,  Ala.  1870 

P.  M.  Savery,  Tupelo,  Miss.  1870 

T.  W.  Griffith,  Newark,  N.  J.  1871 

Gustav  Frank,  New  York  City.  187 1 

Clias.  C.  Terry,  Hudson,  N.  Y.  1871 

Jno.  R.  Hurley,  Paterson,  N.  J.  187 1 

R.  W.  Woodward,  Jersey  City,  N.  J.  1871 

T.  B.  De  Forest,  Bridgeport,  Conn.  1871 

Henry  Bull,  Jr.,  Newport,  R.  I.  187 1 

Jones  Frankle,  Haverhill,  Mass.  1871 

J.  Allen  Brown,  Salisbury,  N.  C.  1871 

L,  S.  Fish,  Cleveland,  O.  1871 

J.  W.  Hinman,  Clyde,  N.  Y.  1871 

Charles  W.  Grant,  San  Francisco,  Cal.  187 1 

Geo.  Childs,  San  Francisco,  Cal.  1871 

William  M.  Dye,  San  Francisco,  Cal.  187 1 

W.  P.  Coleman,  Sacramento,  Cal.  187 1 

Co.  P.  Reeves,  Suisun,  Cal.  187 1 

J.  S.  Hickok,  Burlington,  Vt.  1872 


W.  N.  Coleman. 


S  .    C  -     L  '_  M  B  A  R  D  . 


T.  W.  Griffith. 


GusTAv  Frank. 


Chas.  C.Terry. 


J  NO.R.  Hurley. 


R.W.  Woodward. 


Henry  Bull,  Jr. 


Jones    Frankle. 


Of     I  HE 


i    U^Wvr^v  ::f^,-v    ' 


4^ 


J.Ai_i_EN   BROwr>i. 


L.  S.  Fish. 


Julius    S.Hickok. 


C-W.    HOWUAND. 


W.  D.  Norton. 


W.  E.Cl-ark. 


I.   C.    H  OWl_AND. 


W  M.  d.  Green. 


V 


LOCAL  AGENTS.  115 

Appointed 

Chas.  W.  Howland,  Rockland,  Mass.  1872 

W.  D.  Norton,  Phelps,  N.  Y.  1872 

W.  B.  Clark,  South  Framingliam,  Mass.  1872 

Chas.  B.  Guild,  Boston,  Mass.  1872 

Isaac  C.  Howland,  Abington,  Mass.  1872 

William  Heeser,  Mendocino,  Cal.  1872 

William  J.  Brodrick,  Los  Angeles,  Cal.  1872 

W.  M.  Weaver,  Greensboro,  Ga.  1872 

-W.  G.  Cain,  Tyler,  Texas.  1872 

Wm.  J.  Green,  Nyack,  N.  Y.  1873 

Wm.  C.  Atwater,  Derby,  Conn.  1873 

C.  Willis  Gould,  Chelsea,  Mass.  1873 

J.  A.  Stover,  Lansingburg,  N.  Y.  1873 

Wm.  B.  Lincoln,  Warren,  Mass.  1873 

A.  Hoffman,  Mt.  Sterling,  Ky.  1873 

L.  W.  Puffer,  Brockton,  Mass.  1873 

C.  C.  Burrill,  Bllsworth,  Me.  1873 

J.  M.  Lockey,  Leominster,  Mass.  1873 

N.  Bverett  Silsbee,  Lynn,  Mass.  1873 

J.  A.  Lineback,  Salem,  N.  C.  1873 

John  Underhay,  Holbrook,  Mass.  1873 

T.  C.  Collins,  Middleboro,  Mass.  1873 


ii6  LIVERPOOL  AND  LONDON  and   GLOBE 

Appointed 

M.  W.  Fair,  Augusta,  Me.  1873 

A.  S.  Service,  Sharon,  Pa.  1873 

J.  D.  Davis,  Corry,  Pa.  1873 

Thos.  H.  Spann,  Indianapolis,  Ind.  1873 

John  M.  Spann,  Indianapolis,  Ind.  1873 

Robert  H.  King,  Lexington,  Ky.  1873 

J.  Q.  A.  Williamson,  Jersey  City,  N.  J.  1873 

Seelye  Benedict,  Brooklyn,  N.  Y.  1873 

A.  C.  Monroe,  Worcester,  Mass.  1873 

Wm.  H.  Brewster,  Jr.,  Newburyport,  Mass.  1873 

Allen  M.  Brewster,  Newburyport,  Mass.  1873 

William  Vanderburst,  Salinas,  Cal.  1873 

L.  N.  Goldbeck,  Austin,  Texas.  1873 

H.  B.  Kaulbacb,  La  Grange,  Texas.  1873 


Wm.  C.  Ax  WATER. 


C. Willis  Gould. 


J.  A.  Sxo  V  ER. 


Wm.E.  Li  n  COL.N. 


A.   Ho 


HorF-MAN.  '  L.W.     PUFFI 


C.C.  BURRILL. 


J.  M.  Locke  y. 


N.E.SlLSBEE. 


J.  A.Lin  eb  ack. 


J  NO.  U  NDERH  AV. 


T  C.  Colli  ns. 


J.  D.  Da V  1  s. 


A.S.  Servi  ce. 


M.W.  Farr. 


T   H.  S  PAN  N. 


JiMO.  M.  Span  N. 


ROBT.    H.   Kl  IMG. 


Members  of  the  Company's  Office  Staff  Other 

than  the  executive,  continuously 

IN  THE  Service  for  over 

Twenty-five  Years. 

New  York  Office: 

Edmund  Tapscott,  Railroad  Department,  October, 

1871. 
James  H.  Bumside,  Risk  Clerk,  November,  1872. 
Frederick   H.  Vail,  Cashier,  January,  1873. 

New  Orleans  Office: 

Jules   T.  Morel,  Cashier,  April,   1873. 

Cincinnati   Office: 

Walter   Bryers,   Bookkeeper,  January,   1872. 


117 


STATEMENT  OF  ASSETS,  LIABILITIES,  AND 

SURPLUS  OF  THE  UNITED   STATES 

BRANCH,    BEGINNING    WITH 

THE     YEAR     1880. 


Assets. 

Liabilities. 

Surplus. 

1880 

$4,462,065.00 

$2,647,030.00 

$1,815,035.00 

I88I 

4,777,589-00 

2,948,482.00 

1,829,107.00 

1882 

5,212,937.00 

2,759,847-00 

2,453,090.00 

1883 

5,771,959.00 

3,195,448.00 

2,576,511.00 

1884 

5,941,474-00 

3,360,480.00 

2,580,994.00 

1885 

5,924.010.00 

3,334,907-00 

2,589,103.00 

1886 

6,639,780.00 

3,686,553.00 

2,953,227.00 

1887 

6,793,575-00 

3,752,238.00 

3,041,337-00 

1888 

6,963,811.00 

3,963,284.00 

3,000,527.00 

1889 

7,337,156.00 

4,298,248.00 

3,038,908.00 

1890 

7,459,995-00 

4,453,861.00 

3,006,134.00 

I89I 

7,862,847.00 

5,002,160.00 

2,860,671.00 

1892 

8,193,023.00 

5,163,827.00 

3,029,196.00 

1893 

8,598,271.00 

5,571,746.00 

3,026,525.00 

1894 

8,498,268.00 

5,427,079-00 

3,071,189.00 

1895 

8,670,434.00 

5,356,316.00 

3,314,118.00 

1896 

9,339,545-00 

5,246,085.00 

4,093,460.00 

1897 

9,681,864.00 

5,195,767.00 

4,486,097.00 

118 


A.C.MuNROE.  Seeuye  Benedict. 


J.  Q.A.Willi  AM  SON. 


A.M.Brewster. 


W.R.HlGBV. 


Wm-H.  Brewster. 


T.B.De  Forest. 


A.H.  Crew. 


J.    L-.    Du  CHOW. 


C.W.Grant. 


B.  R.  Pri  nce. 


J.  H.  Pope. 


Geo.  Ch  I  i_Ds. 


Wm.M.  Dve. 


W.   P.  Coleman. 


W"  J.  Broori  ck. 


Wm.  Heeser. 


uo.  P-  Ree:ve:s. 


TABLE    OF    PREMIUMS    IN    THE 
UNITED    STATES. 


1848 
1849 
1850 

1855 
i860 

1865 

1870 

i875 
1880 
1885 
1890 

1895 
1897 


$4,515.00 

7,900.00 

32,940.00 

380,292.00 

•  455»775-oo 
1,122,897.00 

.  2,114,173-00 
2,328,139.00 

.  2,664,242.00 
3,553,506.00 

•  4496,999-00 
5,600,129.00 

•  5,194,546.00 


COMPANIES    REINSURED. 


Unity  of  England. 
Pacific  of  California. 
Old  Dominion  of  Virginia. 
Amazon  of  Cincinnati. 
Faneuil  Hall  of  Boston. 


Philadelphia. 

Fame. 

Franklin  of  New  York. 

Guardian  of  New  York. 

Jersey  City  of  New  Jersey. 


Standard  of  New  York. 


119 


UNITED  STATES  BRANCH 

ANNUAL  STATEMENT. 

December  31,  1897. 

Assets. 

Real   Estate        ....  $1,745,000.00 

Loans  on  Bond  and  Mortgage  3,674,371.14 

United  States  4^  Bonds         .  2,255,400.00 

New  York  City  3^X  Gold  Bonds  107,500.00 

City  of  Boston  ^^  Bonds           .  206,550.00 

City  of  Richmond  8X  Bonds    .  .         6,800.00 

Cash  in  Banks            .         .         .  677,632.10 

Uncollected  Premiums    .         .  .     940,141.95 

All  other  Assets          .         .         .  68,469.03 

$9,681,864.22 

Liabilities. 

Unadjusted  Losses       .         .  .       $556,098.00 

Unearned  Premiums        .  .          3,889,687.28 

Perpetual  Policy  Liability  .         325,150.73 

All  other  Liabilities       .  .         .     424,831.16 

Surplus       .        .        .  4,486,097.05 

$9,681,864.22 


W*f     Van  DERHURST. 


C.  A.    H  OGAN. 


J.  C.  Turn  er. 


W.  M.  Weaver. 


L-N.GOUDBECK. 


W-  B.  Davidson. 


R  M.  Saver V. 


W.  G.  Cain 


o^  .,4:^^ 


CA\ 


Davio  a.  Sa'j  m. 


E.  S.  O  RAKE. 


AT-  G  RAVES. 


INDEX. 


Acts  of  Parliament 

3.  8,  10 

Bumside,  James  H.     . 

•     117 

Alsop,  Thos.  Israel 

15 

Bryers,  Walter 

117 

Adger,  James    . 

22 

Alvord,  Wm. 

75 

Capital  of  Company     . 

.    6,9 

Addington,  E.  H. 

.     105 

Cotton,  Sir  W.  J.  R. 

18 

Abrams,  B.  H. 

105 

Combe,  Charles  H. 

.      18 

Armstrong,  C.  B. 

.     112 

Collett,  M.  H. 

22 

Atwater,  Wm.  C.    . 

115 

Cottenet,  Francis 

22,  43 

Chicago,  ni. 

26,  66,  75 

Bootli,  Thos.     . 

3 

Cary,  W.  F.,  Jr. 

43,  67,  75 

Brocklebank,  Thos. 

3 

Capital,  U.  S.   . 

.      76 

Brancker,  Sir  Thos.     . 

4 

Chicago  Fire 

45 

Brown,  Wm. 

4 

Crooke,  Geo.    . 

71 

Boult,  Swinton 

4.  5,  II 

Churchill,  J.  DeW. 

103 

Bibbv,  John 

.      18,  83 

Carpenter,  Guy 

.     105 

Brocklebank,  T. 

.       18 

Carver.  J.  G. 

107 

Barclay,  Geo. 

22 

Coye,  Wm.  G. 

•     113 

BrowTi,  James 

22,  36 

Crew,  A.  H. 

113 

Briggs,  Chas. 

23 

Coleman,  W.  N. 

•     114 

Baltimore.  Md. 

26 

ChUds,  Geo. 

114 

Boston,  Mass. 

26,  29 

Coleman,  W.  P. 

.     114 

Bancroft  &  Bryant 

.       26 

Clark,  W.  E. 

115 

Buffalo,  N.  Y. 

26 

Cain,  W.  G.      . 

•     115 

Buildings           .             lo. 

34,  38,  40 

CoUins,  T.  C. 

115 

42, 

79,  80,  81 

Charter,  U.  S. 

21 

Bonds,  U.  S.  Goremmen 

t             37 

Boston  Fires 

•      59.  72 

Deed  of  Settlement, 

3 

Brocklebank,  Sir  Thos. 

.      62 

Dixon,  Wm.     . 

3 

Brown,  John  Crosby 

73,  74,  83 

Dove,  John  Matthew 

12,  82 

Babcock,  Wm. 

•      76 

Directors, 

18 

Bauer,  F.  W. 

104 

Directors,  U.  S.      21,  22 

25,  36,  42 

Brush,  R.  G.     . 

.     106 

66,  67,  72,  73 

74,  75,  83 

Berry,  E.  H. 

106 

Deposits 

•      37 

Buck,  Frederick  O'L. 

.     107 

Davenport  &  Co.    . 

40 

Brockenbrough,  Jno.  C. 

112 

Dividends 

.      63 

Baum,  David  A. 

•     113 

De  Camp,  James  M. 

68 

Bull,  Henry,  Jr.      . 

114 

Duchow,  J.  C. 

•     113 

Brown,  J.  Allen 

.     114 

Dey,  Geo.  W, 

"3 

Brodrick,  Wm.  J. 

115 

Drake,  E.  S.     . 

•     113 

Burrill,  C.  C.    . 

•     115 

Davidson,  W.  B.     . 

114 

Benedict,  Seelye    . 

116 

DeForest,  T.  B. 

.     114 

Brewster,  Wm.  H.,  Jr. 

.     116 

Dye,  WilUam  M.    . 

114 

Brewster,  Allen  M. 

116 

Davis,  J.  D.      . 

.     116 

122 


LIVERPOOL  AND  LONDON   and  GLOBE 


Edwards,  Richard 
Earle,  Wm.,  Jr. 
Ewart,  Jos.  C. 
Earle,  Arthur 
Edwards  &  Brewster  . 
Elliott,  A.  Foster  . 
Eastman,  Geo.  A. 
Eaton,  Henry  W. 
Examinations,  Departmental 
Edwards,  O.  M. 
Establishment  of  United 
States  Branch 


Fletcher,  Alfred 
Fletcher,  A.  Piggott 
Fanning,  F. 
Flower,  A. 
Faber,  C.  W.    . 
Farnsworth,  F.  R. 
Ferguson,  R.  C. 
Fallon,  L.  C. 
Fumess,  G.  A. 
Francisco,  M.  J. 
Frank,  Gustav 
Frankle,  Jones 
Fish,  L.  S. 
Farr,  M.  W. 


Globe  Insurance  Co.  .            .10 

Gilmour,  H.  B.       .  .            18 

Glyn,  Hon.  S.  Carr  ,            .       18 

Griffin,  Francis       .  .            22 

Gordon,  G.  W.  .            .       29 

Grinnell,  Henry     .  .            43 

Gooch,  R.  E.    .  .            .     104 

Gunn,  John  W.       .  .          106 

Greene,  Colton  .            .113 

Graves,  A.  T.           .  .          113 

Griffith,  T,  W.  .            .114 

Grant,  Chas.  W.     .  .           114 

Guild,  Chas.  E.  .           64,  115 

Green,  Wm.  J.        .  .           115 

Gould,  C.  Willis  .            .115 

Goldbeck,  L.  N.     .  .          116 

Holt,  Geo.         ...        3 

Hey  worth,  Omerod  .              3 

Hobson,  Samuel  Taylor  .        3 


3 
3 
3 

13,  18 

26 

40,  66 

64 

68,73 

78 

"3 


18 
18 
18 
18 
22 
26 

43 

76 

103 

113 
114 
114 
114 
116 


Hornby,  Jos.     . 
Hodgson,  Adam 
Henariks,  Aug. 
Hobson,  Richard    . 
Hamilton,  Alexander,  Jr. 


Haven,  Joshua  P.   . 
Hendrick,  James 
Hoyt,  George  W.    . 
Haven,  C.  D.    . 
Hawes,  C.  F. 
Hereford,  J.  B. 
Hitchcock,  Wm.  E. 
Hanrahan,  John 
Hoskins,  W.  L.       . 
Hardin,  W.  H. 
Higby,  W.  R. 
Hogan,  C.  A.    . 
Hurley,  Jno.  R. 
Hinman,  J.  W. 
Hickok,  J.  S. 
Howland,  C.  W, 
Howland,  Isaac  C. 
Heeser,  William 
Hoffman,  A. 

Johnston,  W.  B.      . 
Johnson,  J.  M. 

Kinney,  John 
Kinne,  C.  Mason 
King,  Henry  W.     . 
Kremer,  J,  B. 
Kelsey,  Preston  T. 
Kennedy,  David  N. 
Kauffman,  Andrew  J. 
King,  Robert  H. 
Kaulbach,  H.  B.     . 


Liverpool  Insurance  Co.         .        3 
Lawrence,  Geo.  Hall  .  3 

Low,  Andrew  .  .  .3 

Liability  of  Stockholders  7,  34 

London        .  .  .        8,  10 

Liverpool  and  London  Ins.  Co.      8 
Liverpool  and  London  and 

Globe  Ins.  Co.      .  .       10 

Lawrence,  Right  Hon.  Lord         18 


3 

4 

II 

18 

24,43 

67,  75 

24,36 

33,  112 

68,73 

70 

104 

105 

107 

109 

113 

113 

113 

113 

114 

114 

114 

115 

115 

115 

115 

36,66 
113 

26 

70 

75 
103 
104 

112 

"3 
116 
116 


INDEX. 


123 


I/ivingston,  Mortimer 
IvOans,  Bonds  and  Mortgage 
I/Oudon,  Hugh  R. 
Loudon,  Will  S. 
Low,  Clarence  F.  . 
Leiter,  L.  Z.     . 
Lumbard,  S.  C. 
Lincoln,  Wm.  E. 
Lockey,  J.  M. 
Lineback,  J.  A. 

McGregor,  Alexander 
Melly,  Andrew 
Moon,  James    . 
Mozlev,  Lewin 
Moore,  W.  F.  . 
Murdock,  W.  F.     . 
Matthews,  Howard 
Marshall,  Chas.  H.      43,  67, 
Minturn,  Robert  B. 
Mel,  Geo. 
Moore,  Geo.  H. 
Martin,  John  J. 
Moore,  Lucas  E.     . 
Mather,  Richard 
Munroe,  A.  C. 
Morel,  Jules  T. 

Nicol,  Wm. 
Nicholson,  H.  H. 
Nicholson,  Sir  C,  Bart.     . 
New  Orleans,  La.         23,  25, 
66,69, 
New  York         24,  29,  33,  38, 
National  Board 
Nash,  Frederick     . 
Norton,  W.  D. 


22 

27 

107 

108 

69 

75 
114 

"5 
"5 
115 

3 

3 

3 

3 

18 

26 

26 

73.  74 

67,  75 

70 

71 

73 

76,  83 

112 

116 

117 

3 
iS 
18 

36,  39 
76,  80 

73.  79 

.   93 

"3 

•  115 


Philadelphia,  Pa.   22,  30,  31,  40,  79 


Ogden,  Henry  V.  25,  36,  69 

Otey,  P.J.         .            .  .113 

Proprietors,  earliest  .              3 

Parker,  Chas.  Stewart  .        4 

Preston,  Wm.  Robert  .              4 

Powell,  James              .  .        4 

Parker,  S.  Sandbach  18 

Pell,  Alfred             .  19,  22,  41 

Phelps,  Royal               .  .       22 


Perpetual  business 
Polk,  W.  Stewart 
Pell,  Alfred,  Jr. 
Pulsford,  Jas.  E. 
Pell,  Arthur 
Pepper,  J.  G.    . 
Pescay,  Chas.  H. 
Prince,  B.  R.    . 
Puffer,  L.  W. 
Pope,  J.  H. 

Reserves 
Romilly,  Cosmo 
Robinson,  Charles 
Railroad  business 
Rathbone,  R.  C.     . 
Randolph,  Edmund  D 
Re\'iew  of  period  -. 
Reeves,  C.  P.    . 

Smyth,  H.  L. 
Sanderson,  E.  F 
Smith,  Richard  S. 
San  Francisco,  Cal.  24 
Sinton,  Wm.    . 
Smith,  Atwood 
Stock,  price  of 
Sewall,  Charles 
Stokes,  Anson  Phelps 
Stewart,  J  no.  A. 
Strauss,  Levi    . 
Soria,  C.  M. 
Shepley,  George  L. 
Sprinkler  Systems 
Snyder,  Frank  G. 
Seaman,  W.  B. 
Sprowl,  Edward  G. 
Stow,  D.  B. 
Schaeffer,  "Valentine 
Savery,  P.  M. 
Stover,  J.  A. 
Silsbee,  N.  Everett 
Service,  A.  S. 
Spann,  Thos.  H.     . 
Spann,  John  M. 

Trustees 


•  23 
41.  113 

.      42 

42,  67,  72,  73 

67 

.       69 

106 

•  "4 
115 

•  113 

7,9 

18 

26 

27 

.    30,  112 

73.    74 
84 

•  114 

18 

22 

22,  40 

36, 66,  70,  75 

.       26 

39.  112 

•  63 
67 

67,75 

73.  74 

.       76 

76 

•  83 
90 

.  104 
104 

.  106 
112 

•  113 
114 

•  115 
115 

.     116 

116 

.     116 


124 


UVERPOOL  AND  LONDON  and   GLOBE 


Tables 


Thomson,  Henry 
Tate,  W.  H. 
Thomewill,  E.  J. 
Trustees,  United  States 
Troy,  N.  Y.,  Conflagration 
Thomas,  Jno.  V.     . 
Thomas,  Jno.  E. 
Turner,  J.  C. 
Terry,  Chas.  C. 
Tapscott,  Edmund 

United  States  Charter 
Underhay,  John 

Van  Valkenburg,  M.  W. 


ID,  16,  17,  21 

41,  51.  65 
II 


18 
18 
22,  74 
39 
71 
108 

113 
114 
117 

21 
115 

109 


Vanderhurst,  Wm. 
Vail,  Frederick  H. 

Whatman,  G.  D.    . 
Wetmore,  W.  S. 
Warren,  Wm. 
Warren,  W.  S. 
Warner,  Ezra  J. 
White,  Lovell  . 
Westfeldt,  Gustaf  R. 
Wortham,  C.  E.,  Jr. 
Windle,  Joseph  J. 
Windle,  Edward  W. 
Woodward,  R.  W. 
Weaver,  W.  M. 
Williamson,  J.  Q.  A. 


116 

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